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The government has eased contiguous land area norms for special economic zones (SEZs) which want to engage exclusively in the manufacturing of semiconductors or electronic components, according to a notification, "Where a Special Economic Zone is exclusively set up for the manufacturing of semiconductors or electronic components, the contiguous land area shall be ten hectares or more," the commerce ministry's notification has said. Earlier, this was 50 hectares. It added that for the purposes of this provision, the electronic components would include display module sub-assembly, camera module sub-assembly, battery sub-assembly, various types of other module sub-assemblies, printed circuit board, Li-ion cells for batteries, mobile and information technology hardware components, hearables and wearables. The notification also said that the Board of Approval (highest decision-making body for SEZs) can relax the condition of encumbrance-free area, in cases where the area is mortgaged or
Prime Minister Mark Carney's Liberal Party won Canada's federal election on Monday, capping a stunning turnaround in fortunes fuelled by US President Donald Trump's annexation threats and trade war. The Canadian Broadcasting Corporation, the national public broadcaster, said the Liberals will win more of Parliament's 343 seats than the Conservatives. It wasn't clear yet if the Liberals will win an outright majority, which would allow them to pass legislation without needing help. The Liberals looked headed for a crushing defeat until the American president started attacking Canada's economy and threatening its sovereignty, suggesting it should become the 51st state. Trump's actions infuriated Canadians and stoked a surge in nationalism that helped the Liberals flip the election narrative and win a fourth-straight term in power. The opposition Conservative Party's leader, Pierre Poilievre, hoped to make the election a referendum on former Prime Minister Justin Trudeau, whose populari
Incoming Canadian Prime Minister Mark Carney said Tuesday that his government will keep tariffs in place until Americans show respect and commit to free trade after US President Donald Trump threatened historic financial devastation for Canada. Carney, who will be sworn in as Justin Trudeau's replacement in the coming days, said Trump's latest tariffs are an attack on Canadian workers, families, and businesses. My government will ensure our response has maximum impact in the US and minimal impact here in Canada, while supporting the workers impacted, Carney said. He added: My government will keep our tariffs on until the Americans show us respect and make credible, reliable commitments to free and fair trade." Trump said Tuesday that he will double his planned tariffs on steel and aluminum from 25% to 50% for Canada, escalating a trade war with the United States' northern neighbour and showing an indifference to recent stock market turmoil and rising recession risks. Trump said on