Finance Minister P Chidambaram in his Budget speech said the government will soon bring out a Special Economic Zone Bill and a new trade policy. Take the Rediff Business Quiz and find out how much you know about the special economic zones in India.
The Union Cabinet will soon consider a comprehensive Special Economic Zones Bill, which would lay down guidelines for their development, operation and management.
In Andhra Pradesh, a maximum of 2,044.15 hectares of land are lying vacant.
India has clearly conveyed to Pakistan that the entire union territories of Jammu and Kashmir and Ladakh, including the areas of Gilgit and Baltistan, are an integral part of the country by virtue of its fully legal and irrevocable accession.
'The Government of India should start a dialogue with the people of Ladakh, but the trouble is they are not willing to listen to our grievances.'
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
While most other big companies like Tata, Mahindra and Reliance remain non-committal on FDI, Nikhil Gandhi was the lone voice supporting 51 per cent FDI through the automatic route.
Shares of Adani Group companies were in focus during Monday's session, with four of the six listed stocks being locked in the upper circuit of 5 per cent, bouncing back up to 11 per cent from their respective intra-day lows on the BSE. Adani Green Energy (Rs 1,115.85), Adani Transmission (Rs 1,297.65), Adani Total Gas (Rs 1,321) and Adani Power (Rs 120.60) were locked in 5 per cent upper circuit on the BSE. Adani Ports and Special Economic Zone (APSEZ) and Adani Enterprises rallied over 7 per cent and 6 per cent, respectively, in intra-day trade. In comparison, the Sensex rose 0.44 per cent to 52,574.46 on Monday. Last week, all Adani group stocks had come under pressure after a media report suggested that the National Securities Depository (NSDL) had frozen accounts of three foreign funds that own stake in four of Adani Group companies.
China's deteriorating economy is a serious concern. Xi Jinping and China's new premier will have a difficult task ahead of them after the 20th party congress, notes Jayadeva Ranade, the retired senior RA&W officer and China expert.
Four developers, including L&T Chennai Projects and Welspun Anjar, have approached the Commerce Ministry to surrender their IT and textile zones respectively.
As a part of its plan to decongest Mumbai and Navi Mumbai, the Maharashtra government proposes to develop a third city in Uran, 80 km away from Mumbai in the Raigad district.
The demand relates to certain tax benefits on income from software development done overseas.
'People should realise that what we are fighting for today is actually for tomorrow, for future generations.'
Lower minimum area of land required for multi-product SEZs to 250 hectares from 1,000.
The initiatives announced by Commerce and Industry Minister Anand Sharma as part of the annual supplement to the Foreign Trade Policy are aimed at pushing exports which declined by 1.76 per cent to $300.6 billion during 2012-13 and pushed up the trade deficit to $190.91 billion.
The West Bengal state government has delayed project approvals. And now, the IT giants may look at other states as the centre is thinking of giving sops to SEZs
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The request for relaxation came from large manufacturing units which have stated that the move would help facilitate manufacturing processes and augment exports.
At a recent meeting, the Board of Approval headed by Commerce Secretary S R Rao, also allowed three SEZ developers to surrender their project.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
Indian Council of Medical Research Director General Balram Bhargava had on Monday recommended the use of hydroxychloroquine for treating healthcare workers handling suspected or confirmed coronavirus cases.
According to the agreement, RuralShores, one of the largest rural BPO organisations in the country, would be establishing GMR's BPO at Kakinada SEZ in the East Godavari district of Andhra Pradesh.
The multi-product SEZ will bring in more than Rs 2.11 lakh crore of net foreign exchange in 30 years.
West Bengal on Wednesday decided to repeal the Special Economic Zone (SEZ) Act, 2003, clearing the road for other incentive schemes the Mamata Banerjee-led government is likely to announce over the next few weeks.
Proceeds likely to be used for Dhamra port buy.
SEZs are allowed duty-free imports as opposed to a maximum of 6 per cent charged on imports by other entities.
Infosys has been demanding SEZ status to start its Bengal campus, but the state government has been against providing it.
An international airport mulled by state govt in Surat will help to help boost business as well as tourism
The government had imposed Minimum Alternative Tax and Dividend Distribution Tax on SEZs in 2010-11, which were earlier exempted from almost all levies.
Unitech Corporate Parks Plc, the real estate investment company listed on London's Alternative Investment Market in which developer Unitech Ltd holds a 40 per cent stake, has decided to put one of its largest assets in India on the block with a valuation of Rs 3,000 crore.
The list of cities that leading property consultants feel can give fantastic returns to investors based on the development in the area. These areas are not in any metro but could have proximity to one.
Out of 389 SEZs notified, 170 are operational, Export Promotion Council for export-oriented units and special economic zones (EPCES) said in a statement.
The government had imposed Minimum Alternative Tax and Dividend Distribution Tax on SEZs in 2010-11, which were earlier exempted from almost all levies.
Maharashtra SEZ act yet to be notified.
The government will come out with new guidelines to revive export hubs, special economic zones (SEZs), which have lost sheen after imposition of certain levies and proposal to take away tax incentives.
The two countries are scouting for members of a joint working group to study a proposal to this effect made during a recent visit by Commerce and Industry Minister Anand Sharma to Colombo.
In the wake of the Union Budget proposals, developers of Special Economic Zones (SEZs) say the scheme is heading for an end, with investors' interest certain to reduce drastically.
Requirements on minimum size, contiguity and vacant stretches to be eased; MAT and DDT to stay
The BoA, a 19-member inter-ministerial body that deals with special economic zone -related matters, is scheduled to meet on September 9.
The Commerce Ministry on Friday proposed revamp of the SEZ policy to address issues concerning land acquisition and boost exports with a view to bridge the widening trade deficit.
