The Telugu Desam Party, a key member of the National Democratic Alliance, will react to allegations of the Adani Group paying bribes for solar power contracts in Andhra Pradesh only after studying the issue.
While 100 per cent FDI is allowed in single-brand retail, if the foreign investment exceeds 51 per cent, the 30 per cent mandatory local sourcing norm kicks in.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
Its new industrial policy appears to benefit industrial houses
Special Economic Zones are likely to be central to realising Prime Minister Narendra Modi's ambitious Make in India agenda.
The government has given more time to 20 SEZ developers, including Tata Consultancy Services and Mahindra World City, to execute their projects. At a meeting on January 14, the Board of Approval (BoA) headed by Commerce Secretary Rahul Khullar also allowed four SEZ developers to surrender their projects.
References to the repealed laws for service tax, purchase tax, etc, continue in the SEZ laws.
IT, IT-hardware, petroleum, engineering, leather and garments are the leading exports from the SEZs.
At least 47 Indians trapped in cyber scam centres in Laos have been rescued from the Bokeo province of the country, the Indian embassy in the Southeast Asian country said on Saturday.
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.
It was difficult to set up a unified zone on the SEZ land.
Bihar Chief Minister Nitish Kumar on Monday said the Prime Minister should convene an all-party meet to discuss the merits and demerits of SEZs.
Senior officials say the government might come up with an incentive package for the SEZs following the release of Foreign Trade Policy.
Reliance Communications has received approvals from Maharashtra and MIDC for its proposed 45-acre special economic zone.
The special economic zone scheme seems to be in trouble.
In Andhra Pradesh, a maximum of 2,044.15 hectares of land are lying vacant.
Finance firms in these SEZs likely to get tax breaks.
The government has approved three special economic zones and was considering granting approval for setting up 14 SEZs, Commerce and Industry Minister Arun Shourie informed the Rajya Sabha on Monday.\n\n\n\n
Harrowing scenes unfolded at the SEZ where the fire ripped through the pharma company. Injured workers with torn clothes and bleeding injuries were seen being shifted to hospitals in ambulances.
The BoA, a 19-member inter-ministerial body that deals with special economic zone -related matters, is scheduled to meet on September 9.
No more than 62% of farmland acquired for Special Economic Zones has been used for its intended purpose of boosting manufacturing, exports and jobs
Amid controversy over the setting up of China-style special economic zones, India on Thursday said the government recognised SEZs as 'an useful tool' in furthering industrialisation but will implement the concept in its 'own way'.
The department of commerce may de-recognise the 247-hectare engineering special economic zone at Hazira, promoted by Essar Hazira SEZ Ltd.
Expressing serious concerns over the DTC Bill, SEZ entrepreneurs on Tuesday said the proposed tax provisions would hit employment and drive away investors from the special economic zones.
India's biggest realty firm, DLF is betting on special economic zones (SEZs). The zones will cover an area of 26,100 acres and the company expects to take control of the land in the next two years.
In 2011, the Trinamool manifesto had said, the government would not allow SEZs in West Bengal, to protect multi-crop lands.
Commerce ministry monitoring remedial measures to promote exports in key markets.
US investment banker JP Morgan has given 'overweight' rating on four Adani group bonds, comforted by ability to scale and grow using internal cash flows which reduces the scope for credit stress. In a report, JP Morgan gave 'overweight' rating on three bond issues of Adani Ports & SEZ and one by Adani Electricity Mumbai Ltd (a subsidiary of Adani Energy Solutions Ltd). It has taken neutral stand on other five Adani bonds and is underweight on one bond issued by Adani Green Energy Ltd.
CA Computer Associates India Pvt Ltd, which has an approval for setting up an infotech SEZ in Ranga Reddy district of Andhra Pradesh, has informed the commerce ministry that it is withdrawing its application.
The decision was taken in the meeting of the Board of Approval headed by Commerce Secretary Rajeev Kher on September 18.
An international airport mulled by state govt in Surat will help to help boost business as well as tourism
The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by Sebi on Reliance Industries Ltd's chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. The ruling has come after all the entities appealed before the tribunal against the order passed by the Securities and Exchange Board of India (Sebi) in January 2021. In January 2021, Sebi imposed a Rs 25 crore fine on Reliance Industries Ltd(RIL), Rs 15 crore on Ambani, who is the company's chairman and managing director, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.
The plan is to de-notify the entire SEZ.
The Videocon group plans to set up a multi-product special economic zone at Shendra in Aurangabad district of Maharashtra at an investment of Rs 6,600 crore (Rs 66 billion).
Since the SEZ Act was notified in February 2006, 22 SEZs have been up and running. In the last financial year (2006-07), these SEZs collectively exported goods worth Rs 33,000 crore (Rs 330 billion) , roughly 6 per cent of India's total exports of Rs 5,71,641 crore (Rs 5716.41 billion). Officials also pointed out that 52,000 people have found employment in the new SEZs set up after 2005.
SEZ in Mundra, Gujarat denotified for three violations.
