"ITIRs were conceptualised keeping in view the need to boost the growth of both IT/IT enabled services (ITeS) and Electronic Hardware Manufacturing (EHM) units," an official statement said. These regions would become major magnets for investment, creating employment opportunities and economic growth in the area while reducing the pressure on existing urban centres by enabling growth of new townships, it added. The ITIRs will be much larger than IT SEZs.
The Union Cabinet has approved the policy framework for establishing a Non-resident Indian/Person of Indian Origin (NRI/PIO) university in India.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
Make in India right now is just a slogan. The policy content is missing or not clearly articulated. The lion with cogs and wheels must now show some majestic movement forward, says Rahul Khullar.
Seeking the abolition of the SEZ policy, the INLD suggested framing of Manufacturing Investment Region policy to boost investment and production.
A sense of urgency can be detected in the Congress-led UPA government's attempt to shift its policy stance with a series of initiatives aimed at reinforcing its image as a government for the common man.
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.
Sectors that attracted maximum FDI include services, trading, automobile and power.
Estimates suggest subsidy outgo on these proposals would be at least Rs 1,000 crore
The Bangladeshi prime minister said that India's sudden decision to stop onion exports has led to a bit of difficulty for her countrymen.
A blood-soaked Nandigram made Mamata Banerjee what she is today and underpins the hopes of the combustible West Bengal leader of clinching a third straight term in office.
The high point of the trip will be Goyal's meeting with US Trade Representative Robert Lighthizer on November 13, which is expected to see the USTR push India towards lower import duties in a broad range of areas.
The sops being given to the IT firms in metro cities should be extended to companies in tier 2 and 3 cities as it will generate greater employment opportunities and boost growth, industry body Nasscom has said.
While the tax holiday for the factory coming to an end might be a factor, many say the business model of Microsoft (which acquired Nokia's handset division last year), as well as freebies offered by the Vietnamese government, might also have played a role.
The development comes after a recent notification from the Union home ministry, which has permitted companies to resume manufacturing operations and reopening of shops in red, green and orange zones with certain riders.
The NITI Aayog's vice-chairman's charge holds ground.
It is time to reset expectations as government will move with alacrity on social policy, not on economic reforms.
Overseas airlines can operate unlimited number of flights into and out of India.
Companies in China, South Korea and Indonesia pay 25 per cent tax, while those in Malaysia pay 24 per cent. Only Japan has a higher tax than India at 30.6 per cent. Hong Kong has the lowest corporate tax rate of 16.5 per cent while Singapore has 17 per cent rate and Thailand and Vietnam levy 20 per cent tax on companies.
The key proposals from the IT industry that were not addressed included removal of dual levies on software products
To generate ample private sector interest, there is a need to introduce market-linked tariff rates.
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The anger against land acquisition is not only among landowners.
West Bengal Chief Minister Mamata Banerjee has left no stone unturned this year after big industrialists, along with Union ministers, skipped attending the BGBS 2017.
Fadnavis had a series of very productive meetings with American CEOs
India will get $35 billion from Japan over the next five years for developmental projects, including building of smart cities and next generation infrastructure as also cleaning of the Ganga, as Premier Shinzo Abe on Monday pledged to partner Prime Minister Narendra Modi's "ambitious" vision of inclusive development.
This Budget will be a litmus test of the government's resolve to ensure Make in India strategy works
Aggressive acquisitions & deep pockets fuel real estate competition; experts suggest future partnership
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
Investors can take heart from the first Cabinet meeting in the second innings.
'The so-called economic reforms are for the rich.' 'The government should not facilitate and entertain this kind of lust for land by the capitalists.'
For the past few weeks, the government has been in an overdrive, pushing stuck projects with the larger aim to improve the country's economic growth, which had fallen to a four-year low of 4.4 per cent in the first quarter of this financial year.
A few companies continue to pay taxes at 15-20%.
Market breadth on the BSE ended firm as 1,908 shares advanced and 1,156 shares declined
Union Budget 2015 cuold have included few smaller reforms.
New government will have to mobilise money to complete pending irrigation, infra projects
From Kudankulam to the Land Bill, the author takes the Twitter route to capture the infra action of 2013.
Pitching for making the country's 7,500-km long coastline an "engine of growth", Prime Minister Narendra Modi on Thursday said India wants to mobilise Rs 1 lakh crore investment to enable port development and invited global community to invest.
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
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