SEZ
Enthused by the promise made by chief minister N Chandrababu Naidu of an investor-friendly regime in AP, technology titan Wipro is expanding its Vizag campus. The company has sought the nod from the Union commerce ministry for setting up a new SEZ in AP. As per company filings with the commerce ministry, Wipro holds 1.22 [...] Continue Reading »
The Government has set ‘strict’ timelines for clearance of various Special Economic Zones (SEZs) related activities by the development commissioners (DC) of the zones. This has been done to ensure smooth functioning of SEZs and facilitating ease of doing business, an official release said. The development commissioners will be allowed 15 days to examine proposals [...] Continue Reading »
398 special economic zones (SEZz) have not yet started the operations despite getting the needed approvals. The aforesaid was stated by the Commerce and Industry Minister Nirmala Sitharaman in Rajya Sabha last day. While giving a reply to the supplementaries during the Question Hour, she stated that setting up of SEZs has been a long [...] Continue Reading »
To meet the Global competitiveness and boost the export growth along with meeting challenges in India’s fast growing economy, the government should also encourage Special Economic Zones for certain sectors as the Industrial body Assocham stated. Special Economic Zones have to be built in order to promote the fast and organised growth and also development [...] Continue Reading »
IT bigwig Wipro has revealed in a Sunday statement that, in the next five-year period, the company will hire 7,000 people for its SEZ (special economic zone) facility at Visakhapatnam. Other than the proposed hiring for the Vizag SEC, Wipro also plans to expand its operations to Vijayawada, Kakinada and Tirupati; and also in Telangana [...] Continue Reading »
The government is determined to revive SEZs and Arun Jaitley today mentioned that some of the effective steps to be taken by the government will make the SEZs the instruments of industrial production, economic growth, export promotion and employment generation. While presenting the Budget 2014-15, the Finance Minister stated that for achieving this, effective steps [...] Continue Reading »
The pre-budget economic survey which was presented in the Parliament reiterated the need to promote structural changes in manufacturing in the medium term. There was a tremendous slowdown witnessed by the industrial sector which had negatively impacted the GDP of the nation, needs robust mechanisms for revival. Reviving private sector investments to spur growth in [...] Continue Reading »
Anand Rathi Institutional Research has many expectations from Finance Minister Arun Jaitley’s maiden budget to be presented on July 10. They want the revision of the interim budget fiscal deficit target upwards and a clear roadmap to recapitalize public-sector banks. They also have a list of other expectations listed below- For the Technology sector, they expect [...] Continue Reading »
There is some good news for Infosys which has not been performing as per the guidance issued by them. The state-run Odisha Industrial Infrastructure Development Corporation (IDCO) has urged the Falta Special Economic Zone (SEZ) to issue the letter of permission (LoP) to IT major Infosys to start operations at its second development centre in Bhubaneswar. [...] Continue Reading »
The Special Economic Zones (SEZ) had lost their sheen in the last few years as the policy makers were not providing ample facilities to the industries functioning in these places. The commerce department has strongly pitched for allowing the units in the tax free SEZ enclaves to sell a part of their production in the [...] Continue Reading »
