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.
Reliance Industries has announced the setting up a 2 million tonne per annum petrochemical complex at its special economic zone at Jamnagar with an investment of Rs 13,500 crore (Rs 13.5 billion).
For semiconductor manufacturing (wafer fabs) plants, the threshold Net Present Value of investments would be Rs 2,500 crore and the NPV of investments for manufacturing other products would be Rs 1,000 crore.
Peace could at last return to troubled Nandigram block in East Midnapore district, the scene of protests against a proposed special economic zone, with an all-party peace meeting today calling for an end to violence.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
"The Empowered GoM will discuss what to do with the proposals where land acquisition is not an issue and where it is an issue," Commerce and Industry Minister Kamal Nath said.
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.
Essar group on Friday said it will invest Rs 10,500 crore (Rs 105 billion) in a special economic zone at Hazira and augment the steel manufacturing capacity to nine million tonnes, besides expanding the Vadinar refinery.
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
Genpact, a leading BPO player, on Wednesday announced its expansion plans in Bhopal, Bhubaneshwar and Jaipur.
Buying of land should be left to developers and land owners: Venkaiah.
However, flexible work timings for women shall be allowed only if adequate safety and transportation facilities are made.
Moser Baer said on Thursday it has sought an additional 25 acres of land to expand its upcoming special economic zone, which is expected to be operational by the end of this year.
The government plans to modify the access control norms for special economic zone, which prescribes for a wall and a fencing of a particular height, and make them flexible on demands from the developers.
The government will treat sales from domestic tariff area to Special Economic Zones as exports in a bid to attract more foreign direct investment, which could turn out to be an engine of growth.
The price surge at Jhajjar has more to do with skyrocketing land prices near the SEZ site plus a recent rumour that the Haryana government may increase the minimum price for land acquisition to more than Rs 55 lakh (Rs 5.5 million) per acre.
The revised draft of the Direct Taxes Code would now induce more and more companies to set up their units in the special economic zones before March 31, 2011 as the government has made it clear that it wants to do away with the present provision under which the companies enjoy a 15-year tax exemption.
The Centre has cleared a long-pending proposal for setting up of an international airport in Uttar Pradesh on the proposed Agra-Noida expressway near Delhi, official sources said
The stock exchange on which they are traded boasts higher profits than most of the companies whose shares are hitting new highs. Only 37 of approximately 2,000 listed companies with comparable data for 2022-23 (FY23) reported higher profits, while the rest had lower profits. Despite rising corporate profitability, the universe of companies that outperform the National Stock Exchange (NSE) in terms of profitability has been shrinking of late, according to an analysis of companies with comparable data over the past seven years.
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
Since no communication has been received from the Goan govt. on the cancellation of SEZs, the issue remains unresolved.
As many as 24 special economic zone (SEZ) developers including Dr Reddy's Lab and Tata Consultancy Services have sought more time from the government to execute their projects.
Nasscom, the apex body for IT software companies has sought changes in the SEZ Act for the benefit of small firms which constitute a significant number in the industry.
Infosys on Wednesday came down heavily on the special economic zone concept, stating that it is against small companies and this can stifle innovation.
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.
Amid a political furore over a meltdown in the Adani group shares, stock market data shows it is not only the plunge now but the sharp surge of the past also drew regulatory attention and enhanced surveillance. Adani group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
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