Special Economic Zones

Move will allow use of unutilised spaces in IT/ITeS for non-SEZ purposes

Move will allow use of unutilised spaces in IT/ITeS for non-SEZ purposes

This may ensure no single mandatory export commitment

In July, the commerce department sought inter-ministerial comments on the DESH Bill that aims at replacing the existing special economic zone (SEZ) law

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

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

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

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

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

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

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

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

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

The move is expected to create employment opportunities in small cities and increase the export of services

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

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?

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

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

Move to benefit RIL, ONGC and Oil India