Sonia Gandhi's publicly-aired concern over the acquisition of fertile farmland for special economic zones has evoked a prompt response from corporate India, which does not want to delay showing its farmer-friendly face.
The ruling came after Maha Mumbai SEZ Sangharsh Samiti, a local organisation opposing the SEZ, on Friday informed the high court that a public interest litigation relating to the project is pending before the Supreme Court.
Senior government officials says the matter was discussed at a meeting of the ministerial group on special economic zones (SEZ) last week.
The Maharashtra government plans to set up the country's first power SEZs with an installed capacity of around 1,250 MW electricity to meet the needs of the large number of industrial units being established in the state.
Lupin proposes to set up a sector-specific special economic zone in Maharashtra to produce API and formulations with an initial investment of Rs 200 crore (Rs 2 billion).
Maharashtra SEZ act yet to be notified.
In the previous fiscal, exports from the SEZs was Rs 99,689 crore (Rs 996.89 billion). Exports from Reliance Industries' Jamnagar refinery is likely to contribute substantially to the total shipments this fiscal, another official said.
Last week, the 20-hectare zone had got embroiled in a controversy amid reports that the state government was taking back the land. This was after allegations that the land was allotted in an unfair manner. But Chief Minister Rajasekhara Reddy said the government would not cancel the allocation as the company was "sound."
Capping the size of special economic zones to 5,000 hectare may help governments quell social unrest caused by compulsory land acquisition for such projects.
The government on Wednesday cleared a major central legislation to provide duty free environment, single window clearance and more tax incentives to special economic zones to make exports the engine of economic growth.
The government has proposed that all Special Economic Zones should meet at least 25 per cent of their lighting needs through solar energy, a move that will go a long way in making SEZs green, even as consensus eludes climate change talks in Copenhagen.
Batting for the worried SEZ developers who fear withdrawal of incentives in the new direct tax code, Commerce and Industry Minister Anand Sharma on Friday said his ministry would ensure that the sops continue.
Adani group saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a $90 billion capex over the next decade. Emerging from a damning report of a US short seller, which hit market value of its listed companies, Adani group in 2023-24 (April 2023 to March 2024) fiscal focused on containing debt, reducing founder share pledge and consolidating business in core competencies.
According to the SEZ Act, 2005, there is no upper limit for land acquisition by state governments. It also allows acquisition of wasteland and single-crop land, putting negative impact on common property resources like land, forest and water bodies.
Adani, Reliance Industries, DLF, Omaxe and Singapore-based Ascendas Group had plans to set up mega multi-product SEZs, with some of them having infrastructure like ports and air-cargo complexes.
G-VIC is inspired by global high technology innovation clusters such as the Silicon Valley in the US, Hsinchu in Taiwan, Tsukuba in Japan and Sofia Antipolis in France. It has been conceptualised and is led by leading professionals from diverse fields. The company, chaired by former central vigilance commissioner N Vittal, is in close talks with international firms to partner the project.
Even in the midst of a liquidity crunch, Special Economic Zones still remain a lucrative investment option among developers. The government on Monday cleared 22 of these tax-free industrial enclaves.
The company had approached the Ministry of Commerce to extend the validity of the project for two more years, according to a senior official of the company.
"The 46th meeting of the BoA on SEZs to consider proposals for setting up of SEZs and other miscellaneous requests is scheduled to be held on May 31," it said.
Former West Bengal chief minister and a front-ranking Marxist leader Buddhadeb Bhattacharjee will go down in the country's history as a pragmatic communist who kept aside his ideological convictions to woo capital for the industrialisation of his state.
In view of popular sentiments, the Goa government had decided to scrap 12 SEZs and sought denotification of three SEZs from the Centre. In view of popular sentiments, the Goa government had decided to scrap 12 SEZs and sought denotification of three SEZs from the Centre. The three SEZs for Meditab Specialities, Peninsula Pharma Research Centre and K Raheja Corporation had started work on the sites before the state government issued them stop-work orders.
Reliance Industries has said the outcome of the Maharashtra government referendum on Mukesh Ambani-promoted Raigad special economic zone cannot be seen going against the SEZ since the ballot was cast by 'so-called farmers' and not the genuine landowners. About 6,000 land-owners took part in a first of its kind referendum to ascertain whether farmers want to give their land for an SEZ.
eGOM is likely to reconsider the 5000 hectre SEZ land ceiling limit in the coming month.
Report says SEZs had resulted in a revenue loss of Rs. 1,971.39 crore.
The domestic IT major Tata Consultancy Services said that its major expansion would henceforth take place within the notified Special Economic Zones in the country. TCS is setting up its largest global operating unit to accommodate 20,000 professionals in Rajiv Gandhi Infotech Park at Hinjewadi, Pune, a notified SEZ. Maharashtra Chief Minister Vilasrao Deshmukh on Wednesday laid the foundation-stone for the facility, which will become operational by December 2009.
At least clear zones where firms have own land, says minister.
Land acquisition for special economic zones is stuck because of a year-old directive by the Empowered Group of Ministers that bars state governments from carrying out compulsory acquisition of land for the zones.
Two multi-product SEZ projects promoted by Reliance Industries' Chief Mukesh Ambani and the Tatas are among others that would come up for clearance at the meeting of the Board of Approvals in New Delhi on Thursday.
Questions over proposed changes in land use are piling up, even as the commerce ministry and Maharashtra government are rushing to give in-principle approvals and conditional no-objection certificates to special economic zone developers.
Street believes premium valuations justified, as port traffic is expected to grow at a CAGR of 16% over FY14-16.
In another instance, a foreign partner of a notified SEZ had already procured equipment abroad for setting up the units but could not send them to India as all proposals were put on hold.
The much-awaited policy for mandatory rehabilitation of land owners displaced by industrial projects and SEZs might get delayed with the matter being referred to a Group of Ministers.
The two countries have already formed a Steering Committee to carry forward the proposals, one of which relate to setting up a 2,500-acre multi-product SEZ in the south.
Also considered as a green initiative, it would help the units reduce transaction cost and time.
The applications for seeking withdrawal of approvals and extension of validity of clearances will be considered by the board of approvals in the commerce ministry in its meeting on October 5. Those seeking extension of time include Mumbai SEZ, promoted by Reliance Industries' Chairman Mukesh Ambani and his close aide Anand Jain, Gitanjali Gems, Jubliant Infrastructure and L&T Hitech City, an official said.
