User: subbu Topic: Land Issues
Category: SEZ
Last updated: Jun 22 2018 01:28 IST RSS 2.0
 
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WTO to set up dispute panel on India-US case on export subsidies 30.5.2018 General News
The World Trade Organisation's (WTO) dispute settlement body has agreed to set up a panel to examine America's allegations against certain alleged export subsidy measures in India. Last month, the US dragged India to the WTO's dispute settlement mechanism over export subsidies, saying that these incentives were harming the American companies. "At its meeting on 28 May, the WTO's Dispute Settlement Body agreed to a request from the United States for the establishment of a dispute panel to examine certain alleged export subsidy measures in India," the WTO said in a statement. The US has stated that all WTO members, including India, are required to provide subsidies consistent with provisions of the WTO's Agreement on Subsidies and Countervailing Measures, including refraining from providing subsidies contingent upon export performance. The US has alleged that India appears to be providing such subsidies through various export promotion programmes, special economic zones and duty-free ...
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Exports from SEZs rise 5% to Rs 20,548 cr in April: EPCES 30.5.2018 General News
Exports from the country's special economic zones (SEZs) grew 5.44 per cent in April to Rs 20,548 crore as against Rs 19,488 crore in the same month a year ago, EPCES today said. According to Export Promotion Council for EOUs & SEZs (EPCES), highest growth in outward shipments was recorded from the Cochin SEZ which witnessed a 704 per cent jump from Rs 461 crore in April last year to Rs 3,708 crore this year. "Total exports in April this year from SEZs amounted to Rs 20,548 crore as against Rs 19,488 crore in April 2017," said Vinay Sharma, Officiating Chairman of EPCES, adding that the government's policies have managed to register a healthy growth roadmap for manufacturing and service industry. EPCES said the major sectors recording healthy growth include biotech, chemicals, pharmaceuticals, computer, electronics, non-conventional energy, plastic, rubber, trading and services.
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M&M eyeing South Africa, Asean to serve as alternate manufacturing base 30.5.2018 Latest News
Manufacturing companies can no longer be content with merely appointing a local distributor
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Over 700% growth in merchandise exports at CSEZ 30.5.2018 Hindu: Rx
The Cochin Special Economic Zone (CSEZ) has seen its merchandise export business grow by more than 705% during the month of April this year compared t
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Even after 11 months, SEZ Rules not aligned with GST laws 28.5.2018 Rediff: Business
References to the repealed laws for service tax, purchase tax, etc, continue in the SEZ laws.
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Mahindra's new assembly plant to give boost to KwaZulu-Natal's economy 28.5.2018 General News
Mahindra's new semi-knockdown assembly plant in the coastal South African city of Durban is expected to give a boost of more than R95 million (USD 7.7 million0 to the economy of the KwaZulu-Natal province. The plant in the Dube TradePort Special Economic Zone (SEZ), next to the airport, which was officially opened on Friday by provincial Economic Development MEC Sihle Zikalala and Indian High Commissioner Ruchira Kamboj, has a capacity to produce 4,000 of Mahindra's two models of its Pik-Up range, known as 'bakkies' locally. Besides sales in South Africa, where the Mahindra bakkies have been gaining ground, the assembly line will also turn out vehicles for export into the rest of Africa. Speaking at the launch, provincial Economic Development head Zikalala said Mahindra's decision to establish the assembly plant in KwaZulu-Natal was an indicator of the province's "rising star in terms of investor confidence." He added that the issue of unemployment in the region would also be ...
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After 11 months of inception, SEZ Rules yet not aligned with GST laws 27.5.2018 Business Standard: News Now
The commerce ministry should now wake up and suitably amend the SEZ laws
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Volumes spurt at Adani Ports & Special Economic Zone Ltd counter 24.5.2018 General News
Adani Ports & Special Economic Zone Ltd notched up volume of 14.43 lakh shares by 10:54 IST on BSE, a 17.97 fold spurt over two-week average daily volume of 80290 shares
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APSEZ incorporates wholly-owned arm Adani Bhavanapadu Port 22.5.2018 General News
Adani Ports and Special Economic Zone (APSEZ) today said it has incorporated a wholly-owned subsidiary - Adani Bhavanapadu Port Private Limited Ltd (ABPPL). The newly formed entity which would operate in the port sector is yet to commence operations, APSEZ said in a BSE filing. "APSEZ has incorporated wholly-owned subsidiary company 'Adani Bhavanapadu Port Private Ltd' on May 21, 2018," it said. Elaborating on the details, APSEZ said it has acquired 50,000 equity shares of Rs 10 each in ABPPL, for Rs 5 lakh. APSEZ has 10 strategically located ports and terminals on both western and eastern coastline of India, representing 24 per cent of India's total port capacity. Shares of the company today closed 0.90 per cent down at Rs 380.35 apiece on BSE.
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Sagarmala proj faces resource mobilisation challenges: Study 22.5.2018 General News
The government's Rs 8 lakh crore shipping and ports initiative, Sagarmala, faces challenges like timely investment mobilisation and budgetary support, according to domestic rating agency Icra. It, however, said from a long-term perspective, the shipping and ports sector should benefit from the ambitious programme aimed at expanding the coastal and inland waterways. "Challenges would remain in terms of mobilisation of the investments in a timely manner, allocation and availability of adequate budgetary support," Icra said in a note on the shipping sector. It added that creating a conducive business environment and tangible incentives for the private players is also a challenge. The Sagarmala programme was launched under the port-led growth model and aims to invest Rs 8 lakh crore to create new mega-ports, modernise existing facilities and also have special economic zones adjoining the ports, to create over 1.5 lakh new jobs. Icra said the domestic shipping companies have
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Bank of Baroda consolidates operational activities at GIFT City 20.5.2018 General News
State-owned Bank of Baroda today said it has consolidated all its operational activities at a shared service center (SSC), which employs over 2,000 people, at Gujarat's GIFT City. Operational services such as retail loan processing, deposit account opening, forex transactions, call center, among others have been migrated to the SSC. "The SSC employs more than 2,000 staff, making Bank of Baroda one of the largest employers in the Ahmedabad-Gandhinagar region," the lender said in a statement. The bank said it has taken 20,000 sq, ft of office space in GIFT City, making it the first India bank to actually move a lots operations to the smart city. Some other banks have already opened branches and representative offices there. The bank has been on a journey of rapid transformation in its services and processes over the last two years. Part of the transformation in processes was the idea to move the operations at the branch level to a centralised facility. This frees space at the branches ..
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Services to push Maharashtra to $1-trillion economy: Fadnavis 16.5.2018 Hindu: Cities
Mumbai: The services sector will have a large role to play in making Maharashtra a trillion-dollar economy by 2025, according to Chief Minister Deven
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India seeking foothold in ASEAN through Myanmar-Experts 15.5.2018 General News
India's change in approach from a 'Look East' policy to an 'Act East' policy is aimed at gaining a foothold in the Association of South East Asian Nations (ASEAN), experts familiar with these moves have said in the wake of the recent visit to Myanmar by External Affairs Minister Sushma Swaraj.In an interaction with the Myanmar Times, Professor Prabir De of the ASEAN-India Centre, which is a part of the Research and Information System for Developing Countries, said the completion or near completion of the Sittwe and Dawei projects in Myanmar is very important for India's efforts to establish a link with ASEAN countries through Myanmar."Digital connectivity and infrastructure are important for boosting links with Myanmar," Professor De was quoted as saying.He, however, pointed out that both India and Myanmar are guilty of missing out on several deadlines for projects, despite having access to a USD 1.75 billion special fund it has extended to ASEAN.It may be recalled that both India ...
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Diamond biz in India will continue to grow this year: De Beers 13.5.2018 General News
De Beers, the world's largest diamond producer, has said the business in the country will continue to grow this year despite dampened sentiments following Nirav Modi-led PNB fraud. "There has been this banking scandal, that is clearly a fraud, and had certainly dampened sentiments little bit.... But having said that, I think consumer demand in India, as we have Forevermark brand, is doing very well. "It's been an unfortunate incident but the demand in India this year would be reversed, would be good and the business in India will continue to grow in 2018," De Beers Group CEO Bruce Cleaver told PTI here. Diamond merchants Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam of Rs 13,000 crore at Punjab National Bank, mainly by way of issuance of fraudulent Letters of Undertaking (LoUs). The Centre has also intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of PNB. Meanwhile, Cleaver .
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Three development zones mooted for district 12.5.2018 Hindu: Home
Spatial plan proposes special economic zone for Kozhikode
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Rajgurunagar-Khed SEZ cancelled due to injustice to farmers: 11.5.2018 General News
Maharashtra Chief Minister Devendra Fadnavis today said that his government cancelled the Rajgurunagar-Khed Special Economic Zone (SEZ) as injustice was done to the farmers of the area. Fadnavis had recently cancelled the SEZ and had also waived off the stamp duty on the transfer of land to project-affected people of four villages, Nimgaon, Kanersar, Dawadi and Kendur. Fadanvis was speaking to a farmers' delegation, led by Hatkanangle Lok Sabha MP Raju Shetti, which met him to thank him for this decision. "The government has always given priority to the interests of farmers. When acquiring land, maximum compensation should be given. Efforts have been made to see that the rehabilitation of projected affected people is done well," Fadnavis said. Shetti hailed the Maharashtra CM's decision as positive and pro-farmer. In 2007, 1,250 hectares of land was acquired for the SEZ from the four villages in 2007. According to the contract, 15 per cent of this land was to be ...
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Hotel, restaurant services provided to SEZ units taxable under GST: AAR 10.5.2018 DNA: Bangalore
Hotel, restaurant services provided to SEZ units taxable under GST: AAR
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Hotel, restaurant services provided to SEZ units taxable under GST: AAR 10.5.2018 General News
Hotel or restaurant services provided to SEZ developers or units will not be treated as 'zero-rated' supplies and hence will be taxable under the Goods and Services Tax (GST) regime, the Authority for Advance Ruling (AAR) has said. In an application filed before the Karnataka bench of the AAR, the applicant had sought to clarify whether hotel accommodation and restaurant services provided by them, within the premises of the hotel, to the employees and guests of SEZ units be treated as supply of goods and services. "The hotel accommodation and restaurant services being provided by the applicant, within the premises of the hotel, to the employees and guests of SEZ units, cannot be treated as supply of goods and services to SEZ units in Karnataka and hence they are the intra-state supply and are taxable accordingly," the AAR order said. In the earlier service tax regime, the law provided that only services which are labelled as "authorised operation" will be treated as zero-rated supply .
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Zydus Cadila gets USFDA nod for Carbidopa tablets 10.5.2018 General News
Drug firm Zydus Cadila today said it has received approval from the US health regulator to market Carbidopa tablets, used to treat symptoms of Parkinson-disease, in the American market. The company has received final approval from the US Food and Drug Administration (USFDA) to market the product, Zydus Cadila said in a statement. The product is used in a combination (levodopa/carbidopa) to treat symptoms of Parkinson's disease or Parkinson-like symptoms such as shakiness, stiffness, and difficulty in moving. The drug would be manufactured at the group's manufacturing facility at SEZ, Ahmedabad. Zydus group now has more than 190 approvals and has so far filed over 320 abbreviated new drug applications (ANDAs) with the USFDA.
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Zydus Cadila gets USFDA nod for Carbidopa tablets 10.5.2018 General News
Zydus Cadila has received final approval from the US health regulator to market Carbidopa tablets, used for treating symptoms of Parkinson's disease. Parkinson's symptoms include shakiness, stiffness and difficulty in moving. Zydus Cadila has received the final approval from the USFDA to market Carbidopa tablets (25 mg), the company said in a BSE filing. The approved product will be manufactured at the group's manufacturing facility at SEZ, Ahmedabad. The Zydus group has more than 190 approvals and so far filed over 320 abbreviated new drug applications (ANDAs) since it started filings in 2003-04. Shares of Cadila Healthcare, the listed entity of the group, were up 0.31 per cent at Rs 401.75 per scrip on BSE today.
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