Obstacles in development of SEZs will be removed.
Three months have passed, but the Maharashtra government has not been able to finalise its report on the results of the September 22 referendum it had organised in 22 villages of Raigad district that form part of the 10,000-hectare Mumbai Special Economic Zone developed by Jai Corp, a company promoted by Reliance Industries chairman Mukesh Ambani's close associate Anand Jain.
The West Bengal government unveiled a new model to allot 90 acres of subsidised plots each to software majors Infosys and Wipro near Rajarhat locality in the city at an unspecified rate.
Ever since the Chinese-owned Apache SEZ went into full-scale production exactly a year ago, a lot has improved for Tada and its 100,000-plus inhabitants.
The government on Thursday announced substantial benefits to farmers, including a continuous source of income, for their land taken for industrial projects while making it easy for corporate India to acquire land with state help.The National Policy on Rehabilitation and Resettlement, 2007, which was cleared at a meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh, provides for land-for-land compensation, besides preference to affected families for jobs.
Supporting the Finance Ministry's view that tax exemptions to the developers and units in SEZs are a drain on economy, the Organisation of Economic Cooperation and Development has asked the government to review tax exemptions in these areas.
These ambitious projects are littered with every possible acronyms and include proposed road links, air connectivity plans, electricity grids and special economic zones on coasts, says Subhomoy Bhattacharjee.
G K Pillai, who heads the government's SEZ panel, demystifies SEZs and the controversy surrounding them.
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
The Karnataka government on Monday cleared IT major Tata Consultancy Services' proposal for special economic zones at four locations in the state with a combined investment of Rs 1,150 crore.
Singapore is eyeing cities like Hyderabad, Chennai and Mumbai for developing special economic zones. It is also looking at collaborating with educational institutions in India for student exchange programmes.
Tata Realty and Infrastructure Ltd, a 100 per cent subsidiary of Tata Sons Ltd, will invest Rs 3,500 crore (Rs 35 billion) in setting up an information technology Special Economic Zone at Taramani, Chennai. The project will have both commercial and residential projects.
Xi Jinping is winning the war without firing a shot in Sri Lanka, observes Colonel R Hariharan (retd).
The Empowered Group of Ministers to examine the minimum area required for setting up Special Economic Zones is likely to hold its first meeting on Wednesday.
The government on Wednesday said provisions of Press Note 2 (2005 series), which allowed 100 per cent foreign direct investment in townships
At a recent meeting with Delhi chief secretary Rakesh Mehta besides other Industries department officials, private developers like DLF Commercial Developers Ltd and Consolidate Finvest and Holdings Ltd expressed their inability to invest in the project.
Nobody is dubbing it a revolution, but something radical has happened near Mumbai. Ambani, not just the richest but also arguably the most powerful Indian industrialist, has faced a setback due to 'people's power'.
The Kerala government has not excluded the industrial units situated in special economic zones from labour laws, State labour minister P K Gurudasan told the Assembly on Thursday. He was replying to a calling attention motion on the difficulties experienced by the employees of new generation banks, IT sector and private insurance and financial institutions functioning in the state due to non-compliance of labour laws by the respective units.
During April-September 2010-11, exports from the tax free enclaves had clocked Rs 1.39 lakh crore (Rs 1.39 trillion).
IT major Infosys said it would not give up the 50-acre land it has been allotted for its maiden campus in West Bengal, even as the project is to take off due to deadlock over the issue of SEZ status for over 2 years.
New exchange will provide an electronic platform for trading.
The West Bengal state government has delayed project approvals. And now, the IT giants may look at other states as the centre is thinking of giving sops to SEZs
The Environment Ministry had earlier this month termed as "incorrect" claims that Adani Port and SEZ was spared a hefty fine of Rs 200 crore.
Six infotech special economic zone projects of the Unitech Group, which owns the country's second-biggest real estate company, have been delayed by as much as three years owing to slowing demand and delays in government approvals, sources said.
The commerce and industry ministry is in talks with state governments to prepare guidelines for setting up local governance bodies inside these tax-free industrial enclaves. Sources said these bodies may either be modelled on the lines of townships developed by state industrial development authorities like the New Okhla Industrial Development Authority (Noida) in Uttar Pradesh, or follow a Jamshedpur-like model, where a corporate house takes care of civic infrastructure.
For the first time, a Gujarat-based company has announced plans to set up a commodity-specific SEZ. And the main commodity that will occupy the centre-stage of SEZ will be cotton.
The Finance Minister is slated to announce on Thursday the budget proposals for the next fiscal.
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.
In a major relief to Adani Group, the Supreme Court on Wednesday vacated the stay order that stalled work at its Rs 7,400-crore (Rs 74 billion) multi-product Special Economic Zone in Gujarat.
Exports double, while jobs and investments show robust growth rate. The commerce ministry has projected exports from the zones at around Rs 1,25,950 crore (Rs 1,259.5 billion) in 2008-09, growth of 89 per cent over the previous year.
Undeterred by strong objections from opposition parties and several non-government groups, the Maharashtra government is to proceed with the Maharashtra Special Economic Zones and Designated Areas Bill in the legislature during the winter session beginning on December 1 in Nagpur.
State government had earlier said it would not encourage any SEZ in the West Bengal.
The government has failed to reach a consensus on the issue of setting up plastic reprocessing units in special economic zones and is likely to defer its decision once again in the meeting of the Board of Approval on October 21.
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