Page 2 - Sez

Adani Ports & SEZ total cargo volumes rise 48% Y-o-Y to 37 MMT in October

The total cargo volume of the company's ports in India touched 36 MMT, recording a 43 per cent Y-o-Y growth

Adani Ports and SEZ incorporates wholly-owned aircraft leasing unit

Adani Ports and Special Economic Zone Ltd (APSEZL) on Monday said it has incorporated a wholly-owned aircraft leasing unit, Udanvat Leasing IFSC Ltd. The entity will have an authorised and paid-up share capital of Rs 2.5 crore. Udanvat has been incorporated with the objective to carry out business activity of owning and leasing of aircraft, the compay said in a regulatory filing. APSEZL has incorporated a wholly-owned subsidiary company "Udanvat Leasing IFSC Ltd" on October 23, 2023, the company said in the filing. It also said Udanvat Leasing IFSC Ltd has been incorporated with an authorised and paid-up share capital of Rs 2,50,00,000 divided into 25,00,000 equity shares of Rs 10 each. Last month, Tata Group-owned Air India had also announced setting up an aircraft leasing unit at IFSC (International Financial Services Centre) Gift City while budget carrier IndiGo also plans to establish a shop at IFSC Gift City. Aircraft leasing firms that commence operations from the IFSC in .

Deloitte, Adani Ports & SEZ spar over Hindenburg Research's claims

Had sought external examination of Hindenburg's allegations: Deloitte

Import restrictions on gold jewellery not applicable for SEZ units

The government has clarified that import restrictions on certain gold jewellery and articles are not applicable for units in the special economic zones (SEZs). On July 12, the government, through a notification, imposed these restrictions on certain gold jewellery and articles. In a policy circular, the Directorate General of Foreign Trade (DGFT) said it has received representations from SEZs units highlighting issues being faced by them due to these restrictions. Accordingly, it is "clarified" that imports of these products by SEZ units "are outside the purview" of the July 12 notification, the Directorate General of Foreign Trade (DGFT) said. These zones are treated as foreign entities in terms of provisions related to customs.

GMR Hyderabad Aviation SEZ signs lease with Safran Aircraft Engines for MRO

GMR Hyderabad Aviation SEZ Limited (GHASL), a GMR Group company has recently signed a Land Lease Agreement with Safran Aircraft Engines Services India Pvt. Ltd , a subsidiary of Safran, to lease land to the Paris-based aerospace company to build and operate the Engine MRO facility for LEAP turbofan engines. A press release from GMR said spread across 23.5 acres of the land parcel within the SEZ area of GMR Aerospace and Industrial Park here, the facility will occupy around 36,500 sqm of built-up space. The facility will initially have the capacity to service 100 engines per annum, which will gradually increase, to around 300 engines by 2035. It will also generate ample employment opportunities in the state of Telangana, a GMR official said. The construction of the facility will commence in September 2023. The facility is expected to be handed over in December 2024. This facility in Hyderabad will be the largest MRO (maintenance, repair and overhaul) centre in the Safran Aircraft ...

Commerce department likely to tweak some SEZ rules in DESH Bill

Move will allow use of unutilised spaces in IT/ITeS for non-SEZ purposes

Adani Ports & SEZ completes Rs 1,485 cr acquisition of Karaikal Port

APSEZ will spend another Rs 850 cr over time to upgrade infrastructure and reduce the logistics cost for customers

Migsun Group to invest Rs 706 cr in high-street commercial project in Delhi

Will develop a total built-up area of 6.3 acres on the site and expects to deliver the project within three years

Adani Group has sought 94,000 sq mt land for SEZ, township, says Gujarat CM

The Gautam Adani group has sought 94,000 square metres of 'gauchar' (grazing land) and non-arable land from the Gujarat government to build a township and special economic zone, the state Assembly was informed on Friday. Responding to a query raised by Aam Aadmi Party's Jamjodhpur MLA Hemant Ahir, Gujarat Chief Minister Bhupendra Patel, who handles the revenue portfolio, said the group had sought 93,900 square metres of land in Khodiyar village in Ahmedabad and Dantali village in Gandhinagar. Patel, in his written reply, informed the House the Adani Group had sought this land in exchange for its own plots of equal area in these villages. It has also sought 202 square metres of non-arable land in Jaspur village in Gandhinagar without this exchange mechanism, the CM said. The Adani Group wants land in Ahmedabad district to "develop a Special Economic Zone as part of its state-of-the-art township" while land in Gandhinagar district has been sought for the purpose of a township, the CM

Several initial hiccups at GIFT City are behind us, says Injeti Srinivas

"Government had been doing a lot on the tax regime. They have now focused more on ease of doing business and opening up some businesses and stopping you from exporting your capital market"

Focus on finance

Budget measures will strengthen financial markets

DESH Bill: Commerce dept may scrap concessional corporate tax provision

In July, the commerce department sought inter-ministerial comments on the DESH Bill that aims at replacing the existing special economic zone (SEZ) law

'Proving identity of re-imported goods essential for claiming exemption'

Funds held in the foreign currency accounts of SEZ units cannot be loaned or made available to any person or entity resident in India, not being a unit in Special Economic Zones

Need incentive scheme for data centres, separate economic zones: TRAI

The telecom regulator has also proposed a new data centre readiness survey for states and a new national body for digitisation, sharing and monetisation of data

Smartworld Developers expect sales worth Rs 250 cr from retail project

The 100,000 sw ft project in Gurugram is spread over three floors, with units ranging from 500 sq ft to 12,000 sq ft

Centre considering 100% WFH across all SEZ units, says Piyush Goyal

The move is expected to create employment opportunities in small cities and increase the export of services

Govt plans infrastructure status for SEZs; move to ease financing norms

This will be done by giving them infrastructure status, at par with sectors to improve access to finance and enable long-term borrowing from lenders at easier terms

Over 50 women workers in apparel SEZ near Vizag fall sick

Some of the workers who fell sick were said to be pregnant

SME Chatroom: Tribunal allows refund of CVD, special additional duty & cess

I suggest you claim refund of CVD, SAD and cess paid towards regularisation of the default under advance authorisation

Proposed DESH law aims to grant SEZs greater flexibility, but will it work?

Some experts see significant positives, other believe problems associated with older policy will persist