The commerce ministry is proposing a host of direct and indirect incentives such as deferral of import duties and exemption from export taxes to revamp Special Economic Zones through a new legislation, an official said. In the Union Budget this year, the government proposed to replace the existing law governing Special Economic Zones (SEZs) with a new legislation to enable states to become partners in 'Development of Enterprise and Service Hubs' (DESH). The official said the commerce ministry has sought views of different ministries, including finance, on the new bill.
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.
Since the time the special economic zones with large tax concessions were first proposed several years ago, most economists have been pointing out that the scheme would result in large tax losses as existing units would migrate to these exclusive zones.
Is the time ripe for taking a fresh look at the SEZ policy, making sure that it has no adverse consequences for farmers and preventing industry from grabbing land?
The change in the latest Budget will impact the sale and rent of SEZ units of companies like Adani Port, which has large SEZs in Mundra.
There is a need for devising effective rehabilitation packages so that the displaced are not deprived of the fruits of development.
The policy is not likely to make a splash of an impact on the economy
Interestingly, with 83 per cent of entrepreneurs being first-generation founders, the list reflects India's growing spirit of entrepreneurship and leadership.
The government is planning to set up an integrated transport planning authority for faster and comprehensive planning among multiple transport ministries such as highways, railways, and shipping & ports.
Customs duty cannot be levied on electricity supplied from a special economic zone (SEZ) to the domestic market, ruled the Supreme Court on Monday while upholding Adani Power's appeal against a 2019 judgment of the Gujarat high court. The 2019 judgment had denied relief to Adani Power from Customs duty on electricity supplied from its Mundra SEZ unit to the domestic tariff area (DTA).
A senior Pakistani minister has admitted that the country failed to capitalize on the China-Pakistan Economic Corridor (CPEC), citing attempts by the previous government to undermine Chinese investments, leading to investor flight.
India's merchandise exports grew in the first three weeks of November compared with the same period last year, according to preliminary government data, Commerce and Industry Minister Piyush Goyal said on Tuesday. The uptick comes despite globa
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
The White House on Thursday stated that United States President Donald Trump is 'extremely frustrated' with both Russia and Ukraine over the slow progress toward ending the ongoing war and is unwilling to engage in 'meetings just for the sake of meeting'.
India is yet to take a call on United States President Donald Trump's invitation to be part of the 'Board of Peace' that will work towards bringing lasting peace to Gaza and possibly resolve global conflicts, people familiar with the matter said on Wednesday.
Adani Group Chairperson Gautam Adani felicitated Prime Minister Narendra Modi after Modi dedicated the Vizhinjam international deepwater multipurpose seaport to the nation.
India was among the countries not present in Davos when US President Donald Trump unveiled his "Board of Peace" that seeks to work towards bringing lasting peace to Gaza and possibly resolve global conflicts. India is yet to take a call on it, people familiar with the matter said when asked about Trump's invite to PM Modi.
The United Nations Security Council has adopted a draft resolution endorsing United States President Donald Trump's Gaza peace plan and authorising the establishment of an international stabilisation force in the enclave, with the American leader describing it as a 'moment of true historic proportion'.
Trump's 'Board of Peace' is being projected by Washington, DC as a new international body to usher in peace and stability in Gaza and beyond, triggering speculation that it could throw a challenge to the United Nations.
The Adani group, which operates across multiple infrastructure sectors, with 12 listed entities in India and a combined market capitalisation of about $200 billion, remains "anchored by strong assets and robust cash flows", according to a Bank of America (BofA) report.
The matter has now been escalated and the ministry has written to Customs, Bureau of Indian Standards (BIS) and the Directorate of Revenue Intelligence (DRI) to investigate it thoroughly.
Ports-to-energy conglomerate Adani Group saw a 29 per cent rise in tax outgo across portfolio companies to nearly Rs 75,000 crore, it said on Thursday. This includes both direct and indirect taxes paid, as well as payments towards employee social security.
Medha Patkar on what she calls the Special Exploitation Zones.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
Colliers reports that GCC leasing has jumped from 4.6 million square feet in 2021 and is expected to hit 10.6 million square feet by 2025 -- a clear sign that multinationals see Bengaluru as a long-term base.
The government is developing ports across the country as centres for green hydrogen production and export, Sarbananda Sonowal, minister of ports, shipping and waterways (MoPSW) said on Tuesday. "Across the country, over 12 million tonnes of green hydrogen-based e-fuel capacity has been announced.
While it is evident that the INDIA bloc has not shut its doors on Nitish Kumar, those within the NDA are hopeful that the JD-U's support base would benefit them as well
The Haryana government is considering the proposal to set up special tourism zones on the pattern of special economic zones in the state and places of historical importance would be developed as tourism destinations
Any industrial policy is only as good as how it is applied and the other reforms that support it. This was as true 40 years ago as it is now, points out Debashis Basu.
In a big boost to tycoon Gautam Adani, markets regulator Sebi on Thursday cleared the billionaire and his group of stock manipulation allegations made by US short-seller Hindenburg Research, saying fund transfer between group companies did not fall foul of any regulation.
Sixty-seven Indians who were trafficked and forced to work in cyber-scam centres in Laos have been rescued by the Embassy of India in Vientiane, officials said on Monday.
The peace plan included that Gaza will be a deradicalised, terror-free zone that does not pose a threat to its neighbours and will be redeveloped for the benefit of the people of Gaza. The peace plan stated that if both sides agree to this proposal, the war will immediately end. Israeli forces will withdraw to the agreed upon line to prepare for hostage release.
Sections in the US State Department and Pentagon have always felt more comfortable dealing with all powerful Pakistani generals instead of elected civilians, points out Rana Banerji, who headed the Pakistan desk at RA&W.
Chief Minister Shivraj Singh Chouhan is likely to make an announcement in this regard on the occasion of Gandhi Jayanti.
"The special spiritual zone will be created in Chitrakuta to build infrastructure through private-public partnership for pilgrims.
Prime Minister Narendra Modi officially commissioned the Vizhinjam International Seaport on Friday in Thiruvananthapuram in the presence of Chief Minister Pinarayi Vijayan and senior Congress leader Shashi Tharoor, whose presence at the inauguration, Modi said, will give 'sleepless nights' to many.
State-owned Life Insurance Corporation (LIC) on Thursday entirely subscribed to the Rs 5,000 crore bond issue of Adani Ports and Special Economic Zone (APSEZ) at a coupon rate of 7.75 per cent, said sources privy to the development.
'Those who call for war from far-off places should realise the repercussions it has on the people who are actually affected.'
From the Sensex pack, Tata Consultancy Services, Mahindra & Mahindra, ICICI Bank, Maruti Suzuki India, Power Grid, Axis Bank and Adani Ports & Special Economic Zones were among the laggards. On the other hand, HCL Technologies, Tech Mahindra, JSW Steel, Hindustan Unilever, Infosys and Titan were among the gainers.
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