According to Nasscom, India must make its R&D significantly more robust to realise the 'Make in India' dream
Total outflow and inflow of foreign investment in general for 2014-15 fiscal was $6.42 bn and $75.71 bn, respectively
Exports in May 2012 stood at $24.77 billion.
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 Tamil Nadu government on Monday entered into a joint venture with Hyderabad-based GMR Infrastructure Ltd to set up a multi-product Special Economic Zone in the state's Krishnagiri district at a cost of Rs 2,300 crore (Rs 23 billion).
India's largest central trade union, Bharatiya Mazdoor Sangh, said on Monday it will mobilise workers and public against Special economic zones by launching nation-wide protests from July 16 to 23.
One of India Inc's top demands is the abolishing of the MAT.
Communications and Information Technology Minister A Raja on Wednesday warned that withdrawal of Income Tax holiday to Software Technology Parks (STP) in 2010-11 Budget will have 'devastating' effect. He said that the STP scheme should be modified to push growth in the IT sector.
The state governments will be allowed to acquire a maximum of 10 per cent of the total land area allotted for a special economic zone for purposes of contiguity, according to a top source in the rural development ministry.
India has set a target of $160 billion for merchandise exports during 2007-08.
The Indian government is open to making changes in 5,000-hectare land ceiling for Special Economic Zones which was decided at the meeting of Empowered Group of Ministers about two weeks back.
Making it clear that the SEZ policy has come to stay in the country, Prime Minister Manmohan Singh on Friday said a humane and just policy on the resettlement of land oustees was being formulated by the government.
But commerce ministry works on rules for exemption to contractors.
The finance ministry has tightened the noose around developers of special economic zones by disallowing tax concessions to their contractors involved in the construction work.
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
Agriculture Minister Sharad Pawar on Thursday favoured a compensation policy that ensures adequate return to farmers for giving up land holding rights in favour of any upcoming special economic zone project.
Gajendrasinh Jadejha, the sarpanch of the Navi Naal village in Mundra taluka of Kutch, who has been sent to jail under the Prevention of Anti-Social Act by the Gujarat government, has filed a petition in the Gujarat high court against his detention and application of the tough law against him.
The two countries are scouting for members of a joint working group to study a proposal to this effect made during a recent visit by Commerce and Industry Minister Anand Sharma to Colombo.
The government announced several incentives in the five-year Foreign Trade Policy.
The due date for filing Income Tax returns for 2019-20 has already been extended till November 30, 2020.
The department for promotion of industry and internal trade (DPIIT) has suggested to the home ministry to allow limited activity in certain sectors such as heavy electricals and telecom equipment with reasonable safeguards. In a letter to Home Secretary Ajay Kumar Bhalla, the department said that these activities are essential to improve the economic situation and provide liquidity in the hands of the people.
The Bill has proposed that zones notified by the end of March 2012, will get income tax benefits. For units, there is a two-year additional window, with those commencing operations by March 31, 2014, likely to get an exemption.
Under its IT/ITeS SEZ development plan, Electronic Corporation of Tamil Nadu (Elcot) is setting up nine IT SEZs in Tamil Nadu, developing 1 million sq ft space at an estimated cost of Rs 28,000-30,000 crore (Rs 280-300 billion) - one each at Perumbakkam village and Sholinganallur near Chennai, two in Madurai, and one each at Tiruchirapalli (Trichy), Krishnagiri, Salem, Coimbatore and Tirunelveli.
'The government expects demand for electronic products to reach $400 billion by 2023-24. This would be a huge foreign exchange outflow, which may further widen our trade deficit with other nations. Hence, the government plans to push local electronics manufacturing to cut down on their import bill.'
In one of its many arguments, North Block has maintained that direct tax exemptions may be viewed as a subsidy by importer countries, which may then impose countervailing duties on exports from Indian special economic zones. The issue is pending with the empowered group of ministers on special economic zones headed by External Affairs Minister Pranab Mukherjee.
Goa CM Kamat leaves no stone unturned in an effort to revoke the SEZs passed by the Central Govt.
The deal for 800,000-square foot plot in Gurgaon's Infospace Tikri SEZ is likely to improve real estate absorption rate, which has seen some upside recently.
The new exchange will also help global companies raise finance from other overseas investors.
The alternative location is to be selected by the state government, which has appointed Mott McDonald, an engineering and development consultancy, to identify a new location.
Land acquisition laws are very tricky, says Prasoon Mukherjee, chairman of Universal Success.
Cadila Pharmaceuticals has chalked out ambitious plans to set up close to eight units in its upcoming PhaEZ Park near Ahmedabad, which is touted to be the largest in India. The eight units will come up in a phased manner in a span of six to seven years.
Maharashtra government, which is facing the heat over land acquisition for the special economic zones has written to the Centre asking it to clarify the scope of the term compulsory land acquisition.
Having cleared over 200 special economic zone proposals, the Board of Approval will take up 46 fresh cases on Friday.
Karnataka Chief Minister H D Kumaraswamy on Tuesday emphatically stated that the government would not involve itself in acquiring land for special economic zones and investors would have to deal directly with the farmers.
When land was allotted to PSUs in the past, care was taken to ensure this was wasteland - it makes sense to do the same for private industry today.
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