Special Economic Zone

SEZ amendment Bill may be taken up in monsoon session of Parliament

The Bill will allow 'reverse job work'. This means that SEZ units will be able to do a part of the manufacturing process on its behalf for DTA units

Govt clears SEZ proposals of Micron, Aequs for chip, electronics units

The government on Monday said it has approved the proposals from Micron Semiconductor Technology India and Hubballi Durable Goods Cluster (Aequs Group) for setting up SEZs for manufacturing of semiconductors and electronic components. Micron will establish its SEZ facility in Sanand, Gujarat, over an area of 37.64 hectares with an estimated investment of Rs 13,000 crore, while Aequs will establish its SEZ in Dharwad, Karnataka, over an area of 11.55 hectares to manufacture electronics components with an estimated investment of Rs 100 crore. The decision followed the easing of certain SEZ (special economic zone) rules to promote the manufacturing of semiconductors and electronics components. "Subsequently, the Board of Approval for SEZs has accorded approval to the proposals received from Micron Semiconductor Technology India Pvt Ltd (MSTI) and Hubballi Durable Goods Cluster Private Ltd (Aequs Group) for setting up SEZs for manufacturing of semiconductors and electronic components, .

How Sri City's Ravindra Sannareddy turned scrubland into an industrial hub

Lunch with BS: Sri City has now grown to employ over 65,000 people. Sannareddy dream is to take it past 100,000 by its 25th year

Adani Ports' bond sale draws LIC interest on India market return: Report

The bonds were issued at the lowest spread over the corresponding government bond yield in the last seven years

JNPA to become first Indian port with 10 mn TEU capacity by April 2025

The port hit the 7 mn TEUs handling milestone for the first time earlier this month

All EOU, AAH, SEZ exports during extended period should get Rodtep benefits

Rodtep scheme seeks to refund the duties/taxes/levies, at Central, State and local level, borne on manufacture and distribution of the exported product, which are not rebated through any other schemes

ONGC's OPaL exits from Dahej SEZ, aims to tap into booming local market

ONGC PetroAdditions Ltd, a subsidiary of the state-owned Oil and Natural Gas Corporation (ONGC), has relinquished its 'only-for-export' unit status as it aims to tap into the booming local petrochemical market to drive a turnaround. In a stock exchange filing, ONGC said OPaL has received the final approval for its exit from the Dahej Special Economic Zone (SEZ). "Accordingly, OPaL shall operate as a Domestic Tariff Area (DTA) unit with effect from March 8, 2025," ONGC said. "Further, this exit from SEZ will improve the competitiveness of OPaL for supplies to be made to the DTA". This essentially means primarily catering to the domestic Indian market instead of focusing on exports, which is the primary purpose of an SEZ unit. It will now not have to pay customs duty on products sold within India, helping improve margins. The move is primarily to gain access to the wider domestic market and potentially benefit from the lower corporate tax regime. ONGC's C2C3 project extracts ethane

Indore SEZ exports drop by 6.5% due to lower pharmaceutical orders

Exports from Indore's Special Economic Zone (SEZ) fell by about 6.50 per cent to Rs 9,766.53 crore in the first nine months of 2024-25 due to a decrease in orders from pharmaceutical units, an official said. The Union Commerce and Industry Ministry official on Friday said that this SEZ, which has factories for different products, had exported products worth about Rs 10,449 crore between April and December in the financial year 2023-24. He said that medicines account for about 70 per cent of the exports from Indore SEZ. The official said that 59 plants in different sectors including medicine, packaging material, engineering, textile manufacturing and food processing are running in Indore SEZ spread over 572 hectares. Of these, 22 units are from the pharmaceutical sector alone.

Singapore and Malaysia to finalise deal creating vast economic zone

Malaysia Prime Minister Anwar Ibrahim and Singapore Prime Minister Lawrence Wong will officiate a ceremony on Tuesday for the economic zone in Malaysia's southern state of Johor

Industry seeks extension of RoDTEP scheme to SEZs, EOUs till Sep-end

Currently, the RoDTEP scheme for exports from the domestic tariff area (DTA) or the domestic market is in place until September 30

MSEZ partners with Italy's MIR Group for Rs 1,500 cr green facility

The proposed facility will focus on manufacturing BIPV panels, thermal insulation materials, sodium-ion batteries, and insulated doors and windows

Malaysia generating enough energy for big development projects, exports: PM

The investment boost has helped propel Malaysia's economy this year, with growth beating expectations in the past two quarters

Adani Ports to acquire 80% stake in Astro Offshore for $185 million

The company in a statement said the existing promoters of Astro will hold the remaining 20 per cent stake

No exemption for SEZ units under the proposed Central Excise Bill

Officials get to audit businesses; duty recovery time increases to three years

Adani Ports & SEZ shares stable a day after Norway's Norges Bank exit

Norges had cited Adani's investment in a port in Myanmar for its decision

Tamil Nadu among best states in country for economic zone: DP World

Tamil Nadu is one of the best states in the country for an economic zone as the state is one of the most industrialised in India, a senior official of global logistics company DP World has said. DP World has started operations at its largest free trade warehouse zone in India in Chennai. The Chennai facility is the company's second free trade warehouse zone (FTWZ) in India after Mumbai that was established 18 months old. DP World's CEO -- Economic Zones, India Subcontinent and MENA, Ranjit Ray, said Chennai also has strategic advantages since it is connected to South Asia, Africa, Australia via the sea route. "Tamil Nadu is one of the best states in the country for an economic zone. We just started business and now have 15 per cent occupancy in six months," he said. DP World's Chennai economic zone is spread over 6 lakh sq ft with a potential to grow to 2 million sq ft. Tamil Nadu has been one of the most industrialised states in the country for the last 40-50 years, Ray said. D

ReNew, JERA to jointly evaluate green ammonia projects in Odisha

ReNew also has a joint venture called GH4India Pvt Ltd with state-owned oil company Indian Oil Ltd and manufacturing major L&T to jointly set up a green hydrogen business

Revamped SEZ law unlikely before the upcoming Lok Sabha elections

The commerce department had sought the Union Cabinet's nod to bring amendments in the existing SEZ Act, 2005 late last year

Govt working on reforms for Special Economic Zones: Commerce secretary

The government is working on reforms in the Special Economic Zone (SEZ) domain so that movement of goods between domestic tariff area (DTA) and SEZ space is carried out smoothly without affecting the competitiveness of goods in the export markets, Commerce Secretary Sunil Barthwal said on Saturday. During the pandemic two years ago, many office spaces in the SEZ areas had been vacated due to 'work from home' practice initiated by the occupants. Barthwal said this had led to the demarcation of SEZs into SEZ and DTA spaces. "Scale economies have become very important nowadays. Reforms in the SEZ are in the offing so that movement of goods from SEZ to DTA and vice-versa are not affected rendering goods produced become less competitive", Barthwal said at a symposium organised by the Bharat Chamber of Commerce. The official said that the foreign trade policy (FTP) of the government had been framed keeping in mind the global value chain. "Our FTP has been designed for exporters to take

Amendments to SEZ Act to spur commercial office space leasing: CRISIL

The recent notification of the commerce ministry to demarcate part of Special Economic Zones into non-SEZ areas will spur office space leasing in the country, according to a report prepared by research firm Crisil Ratings. India's office space leasing is expected to benefit from the recent amendments to the SEZ Act of 2005, notified by the commerce ministry on December 6, 2023, it said. As per the notification, the amendments permit the demarcation of a part of the SEZ areas into non-SEZ ones after repayment of tax benefits availed till date, the report said. Such a demarcation of non-SEZ areas is expected to create better occupancy through commercial office space leasing, resulting in higher incomes which will outweigh associated costs. Crisil said the SEZ Act was introduced to drive exports by providing tax exemptions for companies operating within such areas. After the sunset clause of the Act kicked off in April 2020, the legislation is no longer in effect but higher complianc