"We will write to the Centre to scrap the eight proposals pending for approval while we will not notify the four (SEZs) that are already approved. About the rest three, we will take up the matter with the Centre to denotify them," said Chief Minister Digamber Kamat.
The government on Friday the proposals of telecom giants Motorola and Foxconn, and Singapore-based reality major Ascendas to join as partners in the Special Economic Zones coming up near Chennai.
India is considering making concessions on the five-year standstill period for duty cuts on crude and refined palm oil
The proposed Foreign Trade Agreement between India and Asean got a boost today as trade ministers of Asean countries agreed to India's proposal for reducing the negative list to 490 items
Exports from India to Pakistan increased by 95.63 per cent to $1.3 billion in 2006-07 against $690 million in the previous fiscal. Imports from Pakistan in the same year were worth $320 million, an 80 per cent increase over the year-ago figure of $180 million. Within the SAARC block, India has been the biggest trading partner of Pakistan in the last six years. According to analysts, India's share in Pakistan's total trade over the last six years stands at almost 50%
CA Computer Associates India Pvt Ltd, which has an approval for setting up an infotech SEZ in Ranga Reddy district of Andhra Pradesh, has informed the commerce ministry that it is withdrawing its application.
Wholesale price inflation remained in the negative territory for the fourth month in a row in July at (-)1.36 per cent, even though prices of food items, especially vegetables, skyrocketed. The inflation, however, has inched up from (-)4.12 per cent recorded in June fuelled by 62.12 per cent rise in vegetable prices. In July last year, wholesale price index (WPI) was 14.07 per cent.
These imports grew 89 per cent to $8.39 billion in May.
External Affairs Minister Salman Khurshid on Tuesday said his ministry is contemplating a plan to have people from industry on-board to facilitate on issues relating to economic diplomacy.
Faced by criticism on its special economic zone policy, the government is preparing guidelines for acquisition of land from farmers for setting up SEZs.
The highlights of the export package was the increase of drawback rates by an average 2 percentage to 3 percentage points with retrospective effect from April 1.
Government said on Wednesday it has extended by one year the in-principle approval to Reliance Industries' Maha Mumbai special economic zone but asked the promoters to cut the size of the zone to 5,000 hectares in line with the new rules.
The survey, conducted by the commerce ministry, covered eight export-driven sectors.
We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
The first meeting with the owners and bankers was held in Kolkata on Saturday for the closed gardens in West Bengal and Assam. The rehabilitation package was approved by the commerce ministry recently.
Leather exporters have chalked out plans for setting up five special economic zones for giving a much-needed boost to the sector by availing tax incentives offered under the SEZ Act.
The Nathu La pass, which will open for border trade between India and China on July 6 after 44 years, may soon become an alternative to sea route with the government studying the possibility for normal bilateral trade through the land route.
An official advertisement in Pakistan showing the entire state of Jammu and Kashmir as part of India has put the government in an embarassing position, with the commerce ministry ordering an inquiry into it.
Under pressure from the United States and the European Union, which have dragged it to the World Trade Organisation over high duties on wines and spirits
Pakistan plans to import 100 more items from India from the next fiscal.
In the absence of progress on services negotiations in the WTO, India is sending a team of officials to Europe to strike a deal in the services area with the EU under the Bilateral Trade and Investment Agreement.
Commerce ministry will issue notices to 57 formally approved SEZs. If the notices are not replied to, the approvals will stand cancelled.
The Centre has asked the Maharashtra government to reduce the size of the Reliance Industries-promoted Mahamumbai SEZ as it involves acquisition of over 10,000 hectares of land.
The government on Wednesday said provisions of Press Note 2 (2005 series), which allowed 100 per cent foreign direct investment in townships
Negotiations on Singapore issues, that have remained a taboo for India, will be the main discussion point at the World Trade Organisation ministerial meeting in Cancun next month.
In a letter dated November 30, the PMO asked the commerce ministry to prepare a detailed note on the venture, in the anticipation that it would come up for discussion in Parliament.
India on Tuesday mooted a marketing policy for the sector though domestic players opposed any move to allow overseas investments in the retail space.
The International Monetary Fund (IMF) has lowered its real export growth forecast for India for 2008 to 13.2 per cent from its April forecast of 16.3 per cent.
The government has also ruled out the need for an amendment to the SEZ Act, as was demanded by Left parties.
