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SEZs to get tax relief in tax code Bill
There is some relief in store for units in special economic zones (SEZs). The Direct Taxes Code Bill, which was approved by the Union Cabinet today, has made further concessions from what was originally proposed. The discussion paper had proposed withdrawing exemptions on investment in SEZs after April 2011. At present, units in SEZs enjoy 100 [...]
Continue reading...Khed SEZ gets environmental nod
20. August 2010
The Union government on Wednesday granted environmental clearance to the ambitious Khed special economic zone (SEZ) project of Bharat Forge Limited (BFL). This is the only SEZ in the state to get an environmental clearance this year. An official statement from BFL read, “The (land) notification and environmental clearance is in place.Steps are being taken to [...]
Continue reading...States to liaison with ComMin on SEZ legislation
3. August 2010
The government has streamlined the process of according clearance to state SEZ bills by making commerce ministry the nodal agency for getting all necessary approvals from various Central ministries and departments. The decision was taken at a meeting between the Home and Commerce ministries recently. The commerce department will now take responsibility of consultations with all departments [...]
Continue reading...SEZs’ area benefit: Small entrepreneurs may gain
26. July 2010
The commerce ministry has made it a little easier to set up special economic zones (SEZs) for select sectors in smaller cities. The minimum built-up processing area requirement has been reduced for SEZs proposed to be set up in cities designated as B-1 and B-2 cities exclusively for electronics hardware and software (including information technology-enabled [...]
Continue reading...Developers of SEZs to meet Pranab on DTC
19. July 2010
Leading developers across the country are likely to meet Finance Minister Pranab Mukherjee and top officials of his ministry on the continuation of tax benefits for special economic zones, or SEZs. The developers, including Raheja Ltd, Ascendas, L&T and GMR, among others, are in the Ministry of Commerce and Industry’s Export Promotion Council for Export Oriented [...]
Continue reading...Reliance Haryana SEZ watered down
19. July 2010
It’s decided. The original concept of a 25,000-acre set of two Special Economic Zones (SEZ) proposed by Reliance Industries Ltd (RIL) in Haryana four years ago has been amended, with watered-down features. Reliance’s request for a change in the concept of the project following its failure to aggregate sufficient land in Gurgaon and Jhajjar, and due [...]
Continue reading...Govt Gives Nod to IT/ITeS SEZ in Kochi
17. July 2010
The Centre has granted formal approval for the development of an IT/ITeS Special Economic Zone on approx 31 acres of Phase II of the Infopark project in Kochi. This decision was taken at a meeting of the Board of Approvals in the Ministry of Commerce in New Delhi. The second phase of Infopark Kochi is planned [...]
Continue reading...GVK seeks anchor investor to revive TN SEZ plans
13. July 2010
GVK, the Hyderabad-based infrastructure developer, is looking for an anchor investor so that it can revive its special economic zone (SEZ) project in Tamil Nadu. GVK and Tamil Nadu Industrial Development Corporation Ltd (TIDCO) have plans to develop a multi-product SEZ, spread over 3,000 acres, at Perambalur. The SEZ will offer manufacturing facilities to industries like [...]
Continue reading...Govt panel has thin agenda due to waning interest in SEZs
13. July 2010
Uncertainty over tax exemptions to new SEZs and units therein has led to declining interest in the Special Economic Zones, as evident from just three fresh applications before the government panel on clearances, for its meeting tomorrow. Moreover, the inter-ministerial Board of Approval headed by Commerce Secretary Rahul Khullar is flooded with 24 applications seeking extension [...]
Continue reading...M&M Group Interested in Setting up 250 acre SEZ near Bangalore
7. July 2010
Mahindra & Mahindra (M&M), the diversified business group, plans to set up a 250-acre special economic zone (SEZ) catering to the aerospace sector near the Bangalore International Airport. According to a state government official, the M&M group has shown interest in setting up the SEZ which is going to be built under a public private [...]
Continue reading...SEZ investors’ interest will be protected: Sharma
3. July 2010
After meeting Finance Minister Pranab Mukherjee today on the proposal to stop tax sops to new SEZ units, Commerce and Industry Minister Anand Sharma said investors will be protected to the “best extent”. “We will see that to the best extent possible, interest of investors will be protected,” Sharma told reporters after the meeting The revised Draft [...]
Continue reading...Reliance plans sizeable DTA along Jhajjar SEZ
20. June 2010
NEW PROPOSAL Contiguity problems set ball rolling for DTA, HIPB to consider Having failed to procure contiguous chunks of land for its proposed 12,500 acre Special Economic Zone (SEZ) at Jhajjar, the Reliance Industries Ltd (RIL) has now come up with a proposal to set up a substantial Domestic Tariff Area (DTA) along the planned [...]
Continue reading...Centre says yes to SEZ Bill, LAW MAY COME TO EFFECT IN JUNE
11. May 2010
After a delay of well over five years and exchange of several letters, the UPA government a month ago approved the draft of the proposed Maharashtra Special Economic Zones and Designated Areas Act, 2010. A senior industries department official on Monday confirmed that after the state cleared the doubts raised by the Centre, it was [...]
Continue reading...Gold Souk plans gems & jewellery SEZ in Gurgaon
7. May 2010
Gold Souk – the jewellery mall developer – is planning to set up a gems and jewellery special economic zone (SEZ) with an investment of Rs 2,000 crore in Gurgaon. The company plans to start work on the project within this financial year.We have got 40 acres from the Haryana government. It is an ambitious [...]
Continue reading...First SEZ of east UP in Sahupuri
24. April 2010
While the UP State Industrial Development Corporation (UPSIDC) is yet to get the land for development of Special Economic Zone (SEZ) in between Varanasi and Bhadohi, a private developer Hari Fertilisers Ltd has succeeded in getting the approval from the Union Ministry of Commerce for an SEZ at Sahupuri (about 15-km from Varanasi) in Chandauli [...]
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27. August 2010
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