Page 2 - Special Economic Zones

Centre to revise SEZ Act, limiting tax sops and enhancing integration

SEZs are areas within the country that have different economic regulations and are considered as a foreign territory, with the primary focus on promoting exports

DESH Bill explained: What it is and why the government may junk it

Discussions are taking place on whether the DESH bill will be passed or the SEZ Act will be amended, officials said

Govt won't curb PC, laptop, and other IT hardware product imports

Puts in place 'contactless' authorisation system

JNPA unveils projects worth Rs 8,363 cr at Global Maritime India Summit

The country's premier container port Jawaharlal Nehru Port on Tuesday unveils four key projects worth Rs 8,363 crore during the third edition of the Global Maritime India Summit, which was virtually addressed by Prime Minister Narendra Modi. The four projects are: construction of the fourth container terminal, Phase II at JNPA; upgradation, operation, maintenance, and transfer of Jawaharlal Nehru Port Container Terminal (JNPCT); newly constructed additional liquid berth terminal; and port-based multi-product special economic zone (SEZ). With these projects, the port's container capacity will go up significantly by 35 per cent from 7.7 million TEUs (twenty-foot equivalent units ) to 10.4 million TEUs while the liquid cargo handling capacity is expected to surge by 62.5 per cent, Jawaharlal Nehru Port Authority (JNPA) said. Of the four projects, foundation stone was laid for the construction of fourth container terminal-phase II on PPP (public-private partnership) basis by Bharat Mumb

Recalibrating SEZs in DESH Bill: Net foreign exchange criterion may return

The announcement of the DESH Bill was made by Finance Minister Nirmala Sitharaman in the Union Budget in February 2022

RoDTEP issues must be addressed quickly

The RoDTEP scheme was introduced in September 2021 for exports made with effect from January 1, 2021

Dell mulls fresh investment in Bengaluru, seeks state govt support

In a bid to further strengthen its presence in Karnataka, Texas-based technology conglomerate Dell is considering a fresh investment in its research and development (R&D) centre in Bengaluru, according to the office of Karnataka Large and Medium Industries & Infrastructure Minister M B Patil. The company already operates a prominent research and development centre in Bengaluru. At the global level, Dell operates around 25 manufacturing facilities with 14 of these facilities dedicated to R&D. On Friday, senior officials from Dell held meetings with Patil at Austin in the USA and sought support from the Karnataka government to overcome import restrictions on Special Economic Zone (SEZ) operations, which would enhance cost sustainability for Dell's expansion in India, his office said in a statement here. A business delegation led by Patil is visiting various states in the US to attract investments into the state. The delegation also met leading semiconductor manufacturing ...

DESH Bill may let companies have obligation of choice: Govt official

This may ensure no single mandatory export commitment

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

Centre allows 100% WFH for IT units in SEZs till December 31, 2023

The new rule states that a unit will have to only maintain the lists of employees who are allowed to follow WFH or from any place outside SEZs

Rooting for mangroves: Many reasons to expand these carbon sinks in India

The mangrove ecosystem offers economic benefits besides safeguarding the country's vast coastline

FinMin rejects provision for tax benefits to SEZs under DESH Bill

Says proposed incentives would "create havoc" for units outside the 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

Goyal holds consultations with SEZ stakeholders on work from home facility

The commerce ministry on Friday held discussions with stakeholders of Special Economic Zones (SEZs) on the issue of work from home facility. The consultations assume significance as the ministry is considering to allow 100 per cent Work From Home (WFH) for employees of units in SEZs. In a tweet, the office of Commerce and Industry Minister Piyush Goyal said, he "held consultations with SEZ stakeholders over Work from Home facility. With the hybrid model here to stay, the government is working to provide flexibility and create jobs in small cities to boost exports and fuel growth". At present, WFH is permitted for a maximum period of one year in a SEZ unit and can be extended to 50 per cent of the total employees. Meanwhile, Goyal also held a meeting with Taiwan's Deputy Minister of Economic Affairs Chern-Chyi Chen. "Discussed enhanced cooperation in several areas of mutual interest and explored ways to further boost bilateral trade and investments between India and Taiwan," a sepa

Covid impact shows that work can be done remotely: Wipro's Rishad Premji

IT companies facing high attrition because they chase the same talent pool and should widen their search, he says

Centre to receive Rs 40,000 crore from windfall tax, half from private cos

The windfall taxes were imposed in July and will only be removed if the price of oil falls below $70-75 per barrel

Top Headlines: Zee shareholders on Sony merger; India wheat flour export

India has allowed export-oriented units and the firms set up in Special Economic Zones to export flour made from imported wheat, a government order said. Read more on this in our top headlines

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

Adani Ports Q1 net drops 17% to Rs 1,092 cr; total income rises marginally

The company's total expenses also increased to Rs 4,174.24 crore from Rs 3,660.28 crore earlier