"It has been two years since the Special Economic Zone Act and rules came into effect. While exports have grown almost 100 per cent to touch Rs 40,000 crore (Rs 400 billion) in the first nine months of the current fiscal, total incremental employment generated by the operational SEZs after February 2006 is 146,128," according to the Export Promotion Council for EOUs and SEZ.
Buying of land should be left to developers and land owners: Venkaiah.
The Maharashtra government has turned down Centre's proposal to scale down the size of Reliance Industries' Maha Mumbai Special Economic Zone
The Rajasthan police early on Friday removed the widows of the three CRPF jawans killed in the 2019 Pulwama terror attack from the protest site outside Congress leader Sachin Pilot's house here and shifted them to hospitals near their respective residential areas.
The government may look at relaxing 5,000 hectare-ceiling on land for Special Economic Zones once the the Land Acquisition Act is in place, commerce secretary G K Pillai said on Monday. "Now that the new Relief & Rehabilitation policy has come into being, the government may think of relaxing the upper limit of 5,000 hectares for SEZs (once the land acquisition law is enacted), he said on the sidelines of the India Economic Summit.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
SEZs are business-friendly but not market-friendly. They work against an economic policy that promotes competition.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
'The Government of India should start a dialogue with the people of Ladakh, but the trouble is they are not willing to listen to our grievances.'
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
The second campus would have the potential to create around 18,000 jobs
The Karnataka Cabinet on Monday decided to rechristen 'Mumbai-Karnataka' region consisting of seven districts as 'Kittur Karnataka.'
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
But commerce ministry works on rules for exemption to contractors.
A high level committee had found the lapses and hence the government has decided to recommend the irregularities to the Centre.
A key meeting of senior United Progressive Alliance government ministers and political parties, including the Congress and its Left allies, failed to secure a political consensus on the showpiece Special Economic Zones initiative.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
The industry alleges the government has been apathetic, despite their pleas for quick action. However, H2 may be different as The US-China trade war had opened a window for Indian exporters to ship more to America.
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 central leadership of the CPI(M) and chief ministers of the Left-ruled states of Kerala and West Bengal have discordant views on the question of a cap on the number of Special Economic Zones
In the unlikely event of the BJP-NDA losing all five states going to the polls in February-March, the Presidential electoral college numbers could be significantly altered, points out N Sathiya Moorthy.
Infosys has been demanding SEZ status to start its Bengal campus, but the state government has been against providing it.
The Reserve Bank of India on Monday moved on Monday to tighten gold imports again in an attempt to rein-in a record high current account deficit by taming demand for the yellow metal.
Xi Jinping is winning the war without firing a shot in Sri Lanka, observes Colonel R Hariharan (retd).
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
The case goes back to 2014, where the diamond merchant had pleaded guilty, though indirectly, for mis-declaration of exports of diamonds.
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.
Laxman Chandra Seth, believed by the vast population of the area to have been the villain of the historic anti-farmland acquisition movement in 2007, said the two built their political careers by misleading the innocent people of Nandigram. Now their lies are back to haunt them.
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.
West Bengal has received total investment proposals worth around Rs 2.43 lakh crore spread across sectors like education, health, mining, steel, infrastructure and financial services during the two-day Bengal Global Business Summit, which concluded in Kolkata on Thursday.
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Imports of gold virtually stopped since July 22 after confusion on the new import rules.
The state has allowed industrial units in special economic zones (SEZs) to lay off workers without government's sanction, regardless of the number of workers
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
'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.
Seeking to restrict gold imports, the Reserve Bank on Friday said nominated banks and agencies will not be allowed to import the precious metal in excess of their entitlements in first or second lot under the 80:20 scheme.
Kamal Nath will need to watch his back because given the slender majority, there is no doubt that the BJP will try to topple his government.
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