Foxconn, a leading Taiwan based manufacturer of connectors for use in personal computers and printed circuit boards for mobile phones, will set up $110 million plant in Chennai to manufacture mobile handset and other components..
SEZs will help alleviate the infrastructure deficit in the country.
SEZs will help alleviate the infrastructure deficit in the country.
Prime Minister Manmohan Singh launched real estate developer DLF Universal's Special Economic Zone project here, as part of initiatives to revive the state's industrial sector.
"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.
Even the best of government policies rarely satisfy the corporate sector. So, it is perhaps surprising that the year 2006 saw a scheme over which all business houses -- big and small alike -- were falling head over heels.
Wipro is close to setting up an IT park in Nagpur and is believed to have acquired 117 acres of land at the new special economic zone in the city.
The government on Wednesday said provisions of Press Note 2 (2005 series), which allowed 100 per cent foreign direct investment in townships
Asia's first Special Economic Zone, the Kandla Special Economic Zone (KASEZ), will go completely wi-fi in the next few months.
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.
A policy was introduced on 1 January 2000 to set up special economic zones in India to provide an internationally competitive environment for exports.
Software giant Wipro Ltd is planning to invest in another software development complex in West Bengal if it gets the special economic zone status from the central government.
Senior government officials says the matter was discussed at a meeting of the ministerial group on special economic zones (SEZ) last week.
The central government's Great Nicobar development project, proposed around an unprecedented transhipment port, will be executed to keep environmental impact minimal, and is essential as it is of national importance, the government has said amid calls to abort the controversial project due to ecological concerns, the Centre said in an official statement.
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
Adani Ports and Special Economic Zone will prepay $195 million of debt due in 2024 as the conglomerate helmed by Gautam Adani looks to boost investors' confidence post being targeted by a US short-seller. In a stock exchange filing, APSEZ said it will buy back $195 million of bonds due in 2024 using its cash reserves. Out of the $520 million principal outstanding, $325 million will be left after the buyback, it said.
The Union Cabinet will soon consider a comprehensive Special Economic Zones Bill, which would lay down guidelines for their development, operation and management.
Finance Minister P Chidambaram in his Budget speech said the government will soon bring out a Special Economic Zone Bill and a new trade policy. Take the Rediff Business Quiz and find out how much you know about the special economic zones in India.
Gautam Adani had in the late 1970s applied to join a Mumbai college for education, but the college rejected his application. He did not pursue education but turned to business and went on to build a $220 billion empire. About four-and-a-half decades later, he gets called to the same college to deliver a lecture to students on Teachers Day. Adani had moved to Mumbai at the age of 16 and started working as a diamond sorter.
The board would take a decision on these applications on February 20.
If as critics point out, the environmental impact assessment study was commissioned only after the auction process got underway with not all the stakeholders getting to know of it, then the government has already compromised the trust it could have enjoyed with Kerala's public including its coastal communities, points out Shyam G Menon.
Sources close to the development said RIL, which was planning two adjacent economic zones in the coastal district of Raigarh in Maharashtra, is looking to set up three special purpose vehicles (SPVs) to develop the various components of the project.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
S&P Dow Jones has said it will remove Adani Group's flagship firm Adani Enterprises from sustainability indices with effect from February 7 following a media and stakeholder analysis triggered by allegations of accounting fraud. The move comes amid leading stock exchanges BSE and NSE putting three Adani Group companies -- Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements -- under their short-term additional surveillance measure (ASM) framework. "Adani Enterprises will be removed from the Dow Jones sustainability indices following a media and stakeholder analysis triggered by allegations of accounting fraud," S&P Dow Jones Indices said in a statement.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
US-based boutique investment company GQG Partners has shot into limelight with its Rs 15,446-crore Adani wager.
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
A Rs 7,056 crore outer harbour project by VO Chidambaranar (VOC) Port in Tuticorin is garnering interest from domestic and global majors in the sector, such as Adani Ports and Special Economic Zone, Singapore's PSA International, Dutch major Van Oord, JM Baxi, and JSW, among others, according to sources close to the development. The project aims to capitalise on the newfound investor interest in the region, spurred by mega investments such as the Rs 16,000 crore electric vehicle manufacturing unit by Vietnamese major VinFast, the Indian Space Research Organisation's second spaceport in Tamil Nadu's Kulasekarapattinam, and Singapore's Sembcorp's Rs 36,238 crore investment in renewable energy.
More shares belonging to companies of the embattled Adani Group have been pledged as security for loans taken by the group's flagship firm, a trustee said. SBICap Trustee in notices to stock exchanges said that a further 0.99 per cent shares in Adani Green Energy Ltd were pledged "for the benefits of the lenders" of Adani Enterprises Ltd. An additional 0.76 per cent shares in Adani Transmission Ltd were also pledged to banks, the trustee said. SBICap, which is a unit of State Bank of India (SBI), however did not give details of the loans taken by Adani Enterprises for which the pledge was created.
Billionaire Gautam Adani's group on Tuesday said it will prepay $130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a stock exchange filing, APSEZ said an aggregae principal amount of $412.7 million was validly tendered.
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