Tata group Chairman Ratan Tata has written a letter to Chief Minister Y S Rajasekhara Reddy indicating that Tata Advance Systems was keen to invest in the hub in the proposed Special Economic Zone in Adibhatla village, on the outskirts of the state capital.
Mumbai-based pharma major Lupin will invest over Rs 200 crore (Rs 2 billion) this year to create additional manufacturing capacities.
The alternative location is to be selected by the state government, which has appointed Mott McDonald, an engineering and development consultancy, to identify a new location.
The Mukesh Ambani-controlled Navi Mumbai SEZ Pvt Ltd has been charged with indulging in illegal land-filling activity by the tehsildar of the Panvel taluka. Navi Mumbai SEZ is developing a Special Economic Zone over 2,000 hectares in association with Cidco, the Maharashtra government's industrial and township development arm. When contacted, D L Kedare, the tehsildar of the Panvel taluka, said the machinery at the two sites (Ulve and Roadpalli) has been confiscated.
Hiranandani is planning to set up a 250-acre multi-services SEZ in Hyderabad. They have tied up with city-based Lahari Infrastructure Limited, in a 50:50 joint venture.
"Another major policy issue in the trade sector which created a lot of heat was that of SEZs... Some fundamental policy changes are needed for the merchandise trade sector and these include checking the proliferation of SEZs," the pre- Budget Economic Survey, tabled in Parliament on Thursday, said.
The other two denotification routes are amendment of the SEZ Act through Parliament and through a presidential ordinance. The latter has been ruled out since Parliament is in session and there is nothing to stop the developers of the three SEZs from going to court if the government waits for the session to end. An amendment of the SEZ Act will not only need approval from the Commerce Ministry, but may also provoke political opposition from the Congress itself.
The government has issued fresh guidelines allowing a power plant the fiscal exemptions of the Special Economic Zone if it is set up in the 'processing' area of the tax-free zone.
The BoA, headed by Commerce Secretary G K Pillai, will consider granting formal clearances to Mukesh Ambani-promoted Navi Mumbai Special Economic Zone and Hindalco aluminium SEZ in Orissa.
Commerce Ministry has sought clarification from Finance Ministry over calculation of profits from SEZ units.
If approved, many proposals will have a significant impact on the SEZ policy, which came into force in February 2006. A crucial finance ministry proposal -- to be discussed by the group -- is imposing an export obligation in excess of 50 per cent on developers and units that will be eligible for duty and tax benefits.
Having cleared over 200 special economic zone proposals, the Board of Approval will take up 46 fresh cases on Friday.
Karnataka Chief Minister H D Kumaraswamy on Tuesday emphatically stated that the government would not involve itself in acquiring land for special economic zones and investors would have to deal directly with the farmers.
After Anil Ambani's proposed special economic zone and land allotments in Noida, all big-ticket real estate projects are being reviewed by the Mayawati government in Uttar Pradesh.
Batting for the Reserve Bank of India and the finance ministry, the Planning Commission on Friday said concessions to special economic zones should be at par with those provided to infrastructure projects.\n\n
Hong Kong-headquartered Growth-Link Overseas has announced it would invest Rs 300 crore to build a manufacturing facility for Nike footwear at Cheyyar, near Kancheepuram in Tamil Nadu.
The government on Tuesday gave formal approval to the multi-services special economic zone of Mukesh Ambani- promoted Reliance Industries Limited in Gurgaon and in principle approval to the company's port-based SEZ in Rewas.
Leading real estate firm Unitech's investment arm Unitech Corporate Parks Plc on Monday said it has received nod from the Board of Approvals for establishment of IT Special Economic Zones at Greater Noida and Kolkata.
The Comptroller and Auditor General of India plans to focus on infrastructure companies and banks for special audit during the current financial year.
IT major Infosys Technologies, which has presence in 40 countries, will spend Rs 1,250 crore (Rs 12.50 billion) over the next ten years for its new facility at Pocharam, near Hyderabad, being constructed in a 450-acre special economic zone.
Genpact opens offices in Kolkata on 700,000 sq.ft of land and plans to employ 7000 people.
The government on Wednesday granted approval to Nokia, Wipro, Hewlett Packard, Reliance, Biocon, Ranbaxy Laboratories, Mahindra and Mahindra, Reliance energy and Adani Group's to set up Special Economic zones.
The Centre cannot de-notify three special economic zones that have been notified in Goa, but can cancel others following the state government's decision to scrap such zones, Commerce Secretary Gopal Pillai said on Wednesday.
Even as several SEZs are struggling to get off the ground, the Mahindras have managed to kick off their second SEZ at Jaipur, after their first one in Chennai.
Land acquisition for special economic zones is stuck because of a year-old directive by the Empowered Group of Ministers that bars state governments from carrying out compulsory acquisition of land for the zones.
Gitanjali Group, the Rs 4,500-crore (Rs 45 billion) diamond-studded jewellery manufacturing firm, has evinced interest in setting up a special economic zone (SEZ) for diamond processing industry near Bangalore.
A Parliamentary Committee has pulled up the government for going ahead with approvals for more Special Economic Zones without waiting for its report on the subject.
Nasscom president Kiran Karnik on Wednesday suggested the government should allow establishment of private higher and technical educational institutions on the lines special economic zones to provide quality education in the country.
Glass shortage in China and the rising prices of imported glass used in finished solar panels have already hit the cost of solar panel imports. The cost of solar modules imported by India have increased 22 per cent since June last year. India imports close to 90 per cent of its solar cells and modules, of which nearly 80 per cent is from China. Domestic solar equipment makers import glass panels and are the largest suppliers in China. The price of a solar module glass has increased 150 per cent in the past six months, revealed industry estimates.
Singapore is eyeing cities like Hyderabad, Chennai and Mumbai for developing special economic zones. It is also looking at collaborating with educational institutions in India for student exchange programmes.
Infrastructure developer GMR Group plans to set up an airport-based special economic zone near the new Hyderabad International Airport, which it has the mandate to develop.
For a direct indication of the premium attached to efficiently-run ports in India, one need look no further than the recent stock market listing of Mundra Port and Special Economic Zone.
Though the Planning Commission favours imposition of a direct tax on Special Economic Zones (SEZs), it does not agree with the contention that these tax-free industrial enclaves are leading to revenue loss.
As the president of Assocham, Dhoot has asked Confederation of Indian Industry and Ficci to join him in requesting the prime minister to reconsider the move to ban states from acquiring land.
Anti-Special Economic Zone agitation in panaji on Friday got celebrity support with noted singer Hema Sardesai joining the day-long hunger-strike by Goa's Movement Against SEZ. Goa's Movement Against SEZ, an umbrella organisation of NGOs, individuals and political parties, including BJP opposing setting up SEZs in the state, has camped just a km away from main venue of the International Film Festival of India.
Already under fire from all quarters over special economic zones, an important parliamentary committee has firmed up its strong opposition over acquisition of farm land.
The Special Economic Zone concept represents another form of "Zamindari" system, Kali Ghosh, general secretary, CITU West Bengal Committee, said on Monday.
The extent of disillusionment can be gauged from the fact that even tax sops for units in the SEZs could not help revive the dampening spirit. The year has seen a change in the sentiment, which has turned for the worse in the last three-four months. Scores of big corporate houses were making a beeline for developing special economic zones, billed as the new investment destination that assured tax-free income.
