Real estate and hospitality major Hiranadani Constructions on Friday said it has plans to set up two Special Economic Zones - one in Powai and the other in the city periphery.
Divestment Minister Arun Shourie said on Tuesday that administrative delays were affecting the growth of exports in the country.
Lupin proposes to set up a sector-specific special economic zone in Maharashtra to produce API and formulations with an initial investment of Rs 200 crore (Rs 2 billion).
Reliance Industries Ltd said its two other proposed SEZs in Mumbai would contribute Rs 50,000 crore (Rs 500 billion) to the country's exports once they are operational.\n
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.
Diversified group Mahindra and Mahindra will set up its third Special Economic Zone at Pune, which is likely to see investments of Rs 9,000 crore (Rs 90 billion).
In a bid to take forward labour reforms, the government on Thursday said units in the special economic zones will be exempted from making contributions to Employees Provident Fund and Employees State Insurance for five years.
Infosys has been awarded the Leadership in Energy and Environmental Design India 'Platinum' rating by the Indian green building council for its Software Development Block 3 in Mangalore and SDB 6 in Mysore, the company in a statement said.
Leading UK-based NRI industrialist Lord Swaraj Paul has said that he proposed to make investments in Madhya Pradesh.
The finance ministry on Monday defended the budget proposal on a sun set clause for tax sops to special economic zones, saying it is a normal practice in any kind of fiscal concessions.
Auditor Deloitte flagged three transactions, including recoveries from a contractor identified in the Hindenburg report, as it issued a qualified opinion on the accounts of Adani Ports & Special Economic Zone.
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.
International Finance Corporation, which plans to hike its India exposure to $1.5 billion by 2007, is eager to invest in the equity of special economic zones, including the Rs 4,950 crore (Rs 49.50 billion) Maha Mumbai SEZ.
The finance ministry on Friday said revenue loss on account of fiscal sops to Special Economic Zones is estimated to be Rs 1,02,621 crore.
The freeze on special economic zones may go in the next 10 days, with the empowered group of ministers expected to give its nod to proposals that show land has already been tied up.
Tax holidays to special economic zones are estimated to lead to a revenue loss of over Rs 1-lakh crore by FY10, the Parliament was informed on Friday.
Billionaire Gautam Adani's group on Monday said it has written confirmation that accounts of three foreign funds that are among its top shareholders are not frozen and reports to the contrary are "blatantly erroneous and misleading". Shares of Adani group companies plunged on Monday after reports that the National Securities Depository Ltd (NSDL) froze the accounts of the three foreign funds that are among the top stakeholders in the firms. Adani Enterprises, the conglomerate's flagship company, as also Adani Ports and Special Economic Zone, Adani Green Energy Ltd, Adani Transmission Ltd, Adani Power and Adani Total Gas Ltd in identical filings to the stock exchanges said the reports of NSDL freezing accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in the group firms were "blatantly erroneous and is done to deliberately mislead the investing community."
Billionaire Gautam Adani-led promoter group has increased its stake in the group's flagship firm as the ports-to-energy conglomerate continues to recover from the effects of a report by US short-seller Hindenburg Research. Promoter group has increased stake in Adani Enterprises Ltd from 67.65 per cent to 69.87 per cent, according to a stock exchange filing. Promoter group firm Kempas Trade and Investment Ltd, which had a minimal stake in the firm, acquired 2.22 per cent in the open market between August 7 and August 18, it said.
The new Vande Bharat Express train is specially designed to operate seamlessly in Jammu & Kashmir's challenging winter conditions for the upcoming Katra-Srinagar rail route.
Adani Ports and Special Economic Zone (APSEZ) on Monday started the first debt buyback programme since billionaire Gautam Adani's conglomerate was targeted by a US short-seller in January. APSEZ 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 quarters, it said in an exchange filing, as it looks to regain investor confidence by showing that its liquidity position is comfortable. Shares of Adani group companies pummelled after Hindenburg Research in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation.
The government expects these special areas -- National Manufacturing and Investment Zones -- will help in increasing the share of manufacturing from 15 per cent of the GDP at present to 25 per cent by 2022.
