Page 2 - Special Economic Zones

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

Finance ministry raises concerns on proposed tax sops under DESH Bill

Says such concessions may stir debate of extending incentive for all firms

What is the DESH Bill?

The govt is likely to introduce the Development of Enterprise and Service Hubs (DESH) Bill in the upcoming monsoon session of Parliament. How will it overhaul the ecosystem of special economic zones?

Top Headlines: Inflation impact on India Inc profit, new SEZ law, and more

The early-bird results for the April-June 2022 quarter hinted at a decline in earnings, even as corporate revenue continued to grow at a fast clip

New SEZ law to focus on job creation and research, not foreign exchange

The Bill shall propose the re-introduction of certain direct tax benefits, under which units set up in these development hubs shall attract a 15 per cent corporate tax until 2032