Special Economic Zones (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 »
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 department of commerce have started consultation on the norms of changing in order to mandate that at least 51 percent of production in the special economic zones (SEZs) should be physically exported. This move is expected to be help in adding to the inflexibility of units in some designated areas. However the discussions have [...] 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 »
During the presentation made by the officials to the ministry to state on matters of commerce and industry Nirmala Sitharam, several topics were raised. This included imposition of MAT (Minimum Alternate Tax), deriving of the manufactured output, restrictions made on the import of gold which ultimately affect the jewel and gems industry along with stagnant [...] Continue Reading »
Ending a long wait, India and China have signed the Memorandum of Understanding (MoU) on the creation of industrial parks. The Indian government has accorded them the same status as Special Economic Zones (SEZs) and National Investment and Manufacturing Zones (NIMZs). The MoU was signed in Beijing during Vice President Hamid Ansari’s visit. The Cabinet [...] Continue Reading »
There are some major management changes happening in the realty sector in India. Unitech Corporate Parks (UCP), the London Stock Exchange-listed firm that owns six IT Special Economic Zones (SEZ) in India is all set to sell its stake in the projects to Canada’s Brookfield Asset Management for about 205.9 million pounds (Rs 2,050 crore). UCP [...] 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 »
