Customs duty cannot be levied on electricity supplied from a special economic zone (SEZ) to the domestic market, ruled the Supreme Court on Monday while upholding Adani Power's appeal against a 2019 judgment of the Gujarat high court. The 2019 judgment had denied relief to Adani Power from Customs duty on electricity supplied from its Mundra SEZ unit to the domestic tariff area (DTA).
The Adani Group is exploring strategies to revive Formula 1 racing at the Buddh International Circuit in Greater Noida, with Karan Adani expressing strong interest in bringing the sport back to India.
The government is likely to raise the number of special economic zones from 150 at present in view of the enthusiastic response from manufacturing and services companies.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
Adani Group on Tuesday committed to investing Rs 2.3 lakh crore over the next five years across power, cement, industrial parks, aluminium and city gas expansion in Odisha. According to a statement by the group, the investment commitment was made during Utkarsh Odisha 2025 - the state's investor meeting.
Reliance Haryana SEZ, a joint venture between Reliance Ventures Ltd -- an Reliance Industries subsidiary, and Haryana State Industrial and Infrastructure Development Corporation has so far bought 7,001 acres of land in Jhajjar district and about 1,200 acres and 1,383.68 acres of HSIIDC land in Gurgaon.
The Budget 2025-26 meets the expectations of fiscal consolidation, maintaining capital expenditure, and boosting consumption through tax cuts.
The JV was established for development of SEZs/Model Economic Township project and other infrastructure facilities in Haryana.
As the Union Budget 2025-2026 (FY26) inches closer, the Indian real estate industry is seeking stamp duty cuts, revised home loan limits and updated affordable housing norms through Pradhan Mantri Awas Yojna (PMAY), single-window clearance and eco-friendly policies, among others. Industry leaders and consultancy firms, including Anarock, Raheja, Gaurs, Kanodia Group, Reach, Urban Space, Justo and Eros Group, have shared their expectations.
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
None of Adani group portfolio companies, comprising 11 listed firms, have been accused of any wrongdoing, conglomerate's CFO Jugeshinder Robbie Singh said on founder and chairman Gautam Adani's indictment on bribery charges in the US. In a post on X, Singh said the group would make a detailed comment on the US indictment once it gets counsel approvals.
The commerce ministry had, in March, put on hold this change in the SEZ rules.
eGOM is likely to reconsider the 5000 hectre SEZ land ceiling limit in the coming month.
The Adani Group has plans to invest almost Rs 1 lakh crore over the next seven years in Karnataka as it seeks to expand its footprint in multiple sectors, Adani Ports and SEZ Limited CEO Karan Gautam Adani said on Wednesday. He said having already invested over Rs 20,000 crore in Karnataka till now, the business group is active in multiple sectors in the state, ranging from cement, power, city piped gas and edible oil to transport, logistics and digital. Adani was speaking at the inaugural function of the three-day 'Invest Karnataka 2022'-Global Investors Meet.
The Board of Approval (BoA) on Special Economic Zones (SEZs), the apex decision-making body for such tax-free industrial enclaves, today approved a proposal to amalgamate three separate zones, effectively lifting the 5,000-hectare limit on such zones that the government imposed in 2007.
References to the repealed laws for service tax, purchase tax, etc, continue in the SEZ laws.
Its new industrial policy appears to benefit industrial houses
Directorate of Revenue Intelligence officials on Monday visited the Mukesh Ambani-promoted Special Economic Zone at Jamnagar to ascertain the area used for setting up the export zone.
Requirements on minimum size, contiguity and vacant stretches to be eased; MAT and DDT to stay
The empowered goup of ministers on special economic zones (SEZs) on Thursday cleared 83 proposals
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.
Analysts point out that exporters outside SEZs enjoy Cenvat credit against service tax paid on a host of services subscribed to while engaging in export-related activities. In addition, the department of revenue recently permitted service tax exemption on seven services used by exporters.
According to a department notification, Tech Mahindra has approached the Board of Approvals under the Department of Commerce for transferring rights of three SEZs (one in Tamil Nadu and two in Andhra Pradesh) and the proposal will come up for a discussion before the BoA on August 30.
Around 55 per cent of land in the 36 operational special economic zones (SEZs) in Tamil Nadu is lying vacant owing to various reasons, including the recent economic slowdown.
In 2011, the Trinamool manifesto had said, the government would not allow SEZs in West Bengal, to protect multi-crop lands.
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.
The Environment Ministry on Thursday issued a show cause notice to Mundra Port & SEZ Limited, a private port and special economic zone being developed on the west coast of the country, for alleged violation of the provisions of the Coastal Regulation Zone Notification.
The government on Friday said any freeze on number of Special Economic Zones would not be feasible given the country's demographic reality.
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.
Three special economic zones promoted by Mukesh Ambani and Anand Jain in Navi Mumbai are among among 36 proposals that got cleared by the Board of Approval on Friday.
Facing all-round attack over Nandigram, West Bengal Chief Minister Buddhadeb Bhattacharjee sought on Wednesday a 'fresh look' into the Centre's policy on SEZs, which he felt should be restricted to select industries. He also wanted the Centre to fix a ceiling on land for a particular type of SEZ and work out the percentage of land area to be compulsorily utilised for industries within that limit.
Senior government officials says the matter was discussed at a meeting of the ministerial group on special economic zones (SEZ) last week.
The finance ministry has tightened the noose around developers of special economic zones by disallowing tax concessions to their contractors involved in the construction work.
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.
The Tamil Nadu government on Friday signed a memorandum of understanding (MoU) with Hyderabad-based GVK Group to set up a Rs 1,500-crore (Rs 15 billion) multi-products special economic zone in 3,000 acres in Perambalur district.
Sources familiar with the project said the SPV's promoters were looking at raising the additional capital to acquire up to 250 acres at Thane to complete the first phase of the SEZ project, for which IL&FS is an advisor. Inox Infrastructure Private Limited, a wholly-owned subsidiary of Gujarat Fluorochemicals Ltd, holds 50 per cent stake in Megnasolace.
'The larger story of systematic destruction, which can and has been quantified, goes mysteriously missing from any political and/or public discourse about the ongoing devastation in the Ghats,' notes Prem Panicker.
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