Even as Anil Ambani's proposal for a special economic zone in Noida was turned down by the Uttar Pradesh government on Saturday, Mukesh Ambani's Mumbai SEZ (formerly called the Maha Mumbai SEZ) has also run into problems.
Navi Mumbai SEZ Pvt Ltd, promoted by Ambani and his associate Anand Jain, has proposed to split its 1,233-hectare SEZ project into five separate tax-free zones.
Created to develop special economic zones in the northern state, Reliance Haryana SEZ Ltd is a joint venture between Reliance Ventures Ltd, an RIL subsidiary, and Haryana State Industrial Investment Development Corporation.
Raheja's IT SEZ planned at Verna industrial estate had faced stern opposition from the locals and the state government even after it was notified by the Union commerce ministry's board of approval. The state government has written to the Union commerce ministry seeking to denotify Raheja's SEZ along with two others.
'A cursory glance at India's SEZs suggests they were not nearly as well located' as compared to China, it in its World Development Report 2009. It added that 'poor location is the main obstacle to success.' In 2007, SEZs were approved in the coastal states of Andhra Pradesh, Gujarat, Maharashtra and Tamil Nadu, as well as in the interior states of Haryana, Punjab and Rajasthan, the report said. 'Even in the coastal states, many SEZs are not along the coast,' it said.
Real estate developer K Raheja Universal Private Ltd wants to scrap one of their notified special economic zones and also surrender a part of another zone, citing lack of demand from the information technology sector.
The multi-product SEZ will bring in more than Rs 2.11 lakh crore of net foreign exchange in 30 years.
The zones will be required to register themselves with www.sezindia.nic.in. Currently, developers have to send SEZ-related applications to the Department of Commerce, after which the inter-ministerial Board of Approval (BoA), headed by Commerce Secretary Gopal K Pillai, takes a call on them.
For the first time since its inception in 2006, the Board of Approval on special economic zones in its next meeting in March will take up a proposal from a developer to merge these tax-free industrial enclaves for exports.
However, the ministry of law opined that though there is no specific provision in the SEZ Act and Rules, the power to notify includes power to de-notify also, sources said. Industry experts said that the SEZs which are finding it difficult to continue should be allowed to quit.
Mumbai-based real estate developer, Royal Palms, is developing Mumbai's first Gem & Jewellery Special Economic Zones on a private land at an expenditure of Rs 400 crore.
Investors are apprehensive about the draft Direct Taxes Code.
Four developers, including L&T Chennai Projects and Welspun Anjar, have approached the Commerce Ministry to surrender their IT and textile zones respectively.
There is no logic behind special economic zones, which destroy one form of manufacturing to promote another, says Medha Patkar.
SEZs will help alleviate the infrastructure deficit in the country.
SEZs will help alleviate the infrastructure deficit in the country.
Infosys has asked the West Bengal govt to give them land or repay the token amount the former had paid earlier.
The Reserve Bank of India on Thrusday ruled out any concessional finance to developers and units in these zones, saying they should be treated on par with real estate projects.\n
Leading realty firm Parsvnath Developers Ltd on Friday said it has put on hold 12 Special Economic Zone projects across the country due to credit crunch.
The commerce ministry on Wednesday reiterated that the three notified special economic zones in Goa could not be scrapped by the Centre. It added that the issue had to be sorted between the state government and developers of the zones. Even as the Goa government has raised the issue of scrapping three notified special economic zones with the Centre, the state administration has till date not sent any formal communication to the SEZs in this regard.
Prime Minister Manmohan Singh launched real estate developer DLF Universal's Special Economic Zone project here, as part of initiatives to revive the state's industrial sector.
Reliance Industries Limited has chalked out a novel scheme to compensate and rehabilitate the displaced people from Special Economic Zone areas the company is developing.
Offers 2,000 acres in Pune's Saswad taluk.
India continues to be an attractive foreign direct investment destination to foreign investors despite controversies over special economic zones, a global investments expert said in New Delhi.
There are four nodes and each of these, like Dronagiri, is also formally termed an SEZ, all part of the NMSEZ.
The rehabilitation policy, which is being currently formulated by the Ministry of Rural Development, is unlikely to affect the special economic zones already approved by the government.
DFC is the US government's development finance institution. Adani Ports and Special Economic Zone Limited (APSEZ) in a statement said that the US fund will support the development of deepwater shipping container terminal in the Port of Colombo.
'We have discontinued or replaced certain contractual staff, total number not exceeding double digits, in the north India operations involved in activities under the discretionary cost head,' a Reliance Industries spokesperson said in reply to an e-mailed query sent by Business Standard. According to some employees, who claimed to have been retrenched, the number of laid-off people is much higher. However, the company denies this.
The government has put the brakes on fresh approval and notification of zones beyond the 63 already notified.
Tata Consultancy Services, Infosys and Essar were among 17 aspirants, who were granted in-principle approval by the government on Monday for setting up Special Economic Zones.
The Mayawati-led Uttar Pradesh Cabinet decided to refer the 1,200-acre SEZ proposal to New Delhi as it violated the contiguity norms laid down by it.
The government has also ruled out the need for an amendment to the SEZ Act, as was demanded by Left parties.
The Board of approval had given more time for Raheja's to develop their project in the state. The project is one amongst the three SEZs recommended to be denotified by the state government. Goa's Rajya Sabha member Shantaram Naik said he would meet new Union Commerce ministry Anand Sharma and brief him on the issue.
Development commissioners have been asked to forward proposals regarding SEZs along with their comments at the earliest so that they could be deliberated over at the meeting, it said.
With an aim of roping in a strategic partner for its Haryana SEZ project, corporate giant Reliance Industries is believed to be in talks with IL&FS and a couple of other players for part-sale of its stake.
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