...SPECIAL ECONOMIC ZONE (SEZs) with example of MUNDRA PORT & SPECIAL ECONOMIC ZONE, GUJARAT (MPSEZ) Submitted by:- Executive Summary Special Economic Zones (SEZs) were established in many countries as testing grounds for implementation of liberal market economy principles. SEZs are viewed as instruments enhancing the acceptability and credibility of transformation policies, attracting domestic and foreign investment and also for the opening upon the economy. SEZs in India seek to promote the value addition component in exports, generate employment as well as mobilize foreign exchange. Globally, many countries initiated Free Trade Agreements (FTAs)which eventually led to a spurt in investments in infrastructure developments for Free Trade Zones (FTZs) and SEZs. A close examination of the evolution of SEZs in countries with similar economies as India eg; China, Iran, UAE and Jordan, will help us to understand their success stories and thereby implement those factors, in order to curb the SEZ bottlenecks faced by India today. The Shenzhen SEZ in China is a perfect example of a SEZ success story. In India, the government has been proactive in the development of SEZs. They have formulated policies, reviewed them occasionally and also ensured that ample facilities are provided to the SEZ developers as well as the companies setting up units in SEZs. These favorable conditions resulted in the biggest ever corporate rush for the development...
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...the country. The Special Economic Zones have been conceive d with a view to provide an Internationally competitive and hassle free environment for exports and world class infrastructure over an unprecedented large geographical area. It allows Government to experiment with redical economic reforms on a localise basis, introducing reforms that a difficult to implement at the national lavel, given the country large size and social disparity. The units in the zone have to be a net foreign exchange earner but they shall not be subjected to any predetermined value addition or minimum export performance requirement. All the laws and regulations related to labour, custom, environment clearances, taxation, FDIs etc. in the zones have been sufficiently relaxed or done away with and have been designed to make units globally competitive. This draft report is prepared for setting up Special Economic Zone NOIDA in Ghaziabad district in NOIDA in the state of Uttar Pradesh. The draft report is being prepared by New Okhla Industrial Development Authority based on the report prepared by consultants for the Govt. of UP for setting up Taj Special Economic Zone is District Bulandshahar in the State of Uttar Pradesh. SEZs - A global Overview: Most of the countries in the world have ridden SEZ/FTZ vehicle in attracting FDI, increasing international trade and attaining over all economic development Since 1950's most of the countries in the world have adopted export zone for example US...
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...Special Economic Zones in India were established in an attempt to accelerate foreign investment and endorse exports from India and recognizing the need of a global platform to expose the domestic firms and producers to the competitive world market. The announcement of formulating a Special Economic Zones policy in India was made by the government in April 2000 and was anticipated to be an overseas province for trade purposes, commercial operations, duties and taxes. SEZs when equipped are anticipated to provide premiere infrastructure services and sustenance services, besides permitting for the tariff free import of merchandize and raw materials. Furthermore, attractive financial subsidiaries and trouble-free custom tariffs, banking and other methods are provided in such business zones. Establishing SEZs is also recognized as communications development methods. Mentioned below are some of the salient features of Indian Special Economic Zones: Indian SEZs are developed by government, private and joint sector, unlike its international counterparts where zones are chiefly maintained by their respective governments. This provides equal prospects to both Indian and global players. Government has allocated a least favorable area of 1,000 hectares for Greenfield SEZs. Although, there are no limitation in context of favorable area in constructing sector specific SEZs. 100% of Foreign Direct Investment is allowed for all endowments in Special Economic Zones, apart from activities...
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...Externalities of Special Economic Zone. RATIONALE OF THE PROPOSED INVESTIGATION For developing countries, special economic zones (SEZs) traditionally have had both a policy and an infrastructure rationale. In terms of policy, the SEZ can be a useful tool as part of an overall economic growth strategy to enhance industry competitiveness and attract foreign direct investment (FDI). Through SEZs, governments aim to develop and diversify exports while maintaining protective barriers, to create jobs, and to pilot new policies and approaches (for example, in customs, legal, labor, and public private partnership aspects). SEZs also allow for more efficient government supervision of enterprises, provision of off-site infrastructure, and environmental controls. The category SEZ includes free trade zones (FTZ), export processing Zones (EPZ), free Zones (FZ), industrial parks or industrial estates (IE), free ports, free economic zones, and urban enterprise zones. LITERATURE REVIEW 1) Introduction In this research paper sector specific studies are conducted that analyze efficiency and its variations over the years and studies attempting to shed light on variations in terms of efficiency across major Indian states. These studies explored both stochastic and parametric approaches with respect to the efficiency estimation issue. However, in the context of SEZs, there exist no studies that analyze efficiency aspect of these enclaves either within the SEZs or across zones over the period...
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...are sent to the Collector along with various documents such as Draft Notification, joint inspection note, extract of Fair Adangal for the lands, extract of Village Account no. 3 etc. The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013[1] is an Act of Indian Parliament that regulates land acquisition and provides laid down rules for granting compensation, rehabilitation and resettlement to the affected persons in India. The Act has provisions to provide fair compensation to those whose land is taken away, brings transparency to the process of acquisition of land to set up factories or buildings, infrastructural projects and assures rehabilitation of those affected. The Act establishes regulations for land acquisition as a part of India's massive industrialisation drive driven by public-private partnership. The Act replaced the Land Acquisition Act, 1894, a nearly 120-year-old law enacted during British rule. The bill was introduced in Lok Sabha in India on 7 September 2011.[2][3] Out of the 235 members who voted on the bill, 216 backed it while 19 voted against it.[citation...
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...INCIDENT: INTERNATIONAL CASE BETWEEN ITALY AND INDIA Author: Manuele Scardaccio The Enrica Lexie incident of 15 February 2012, off the coast of Kerala had attracted unprecedented attention in all the world. The legal issues involved in bringing the Italian marines to justice for the killing of two Indian fishermen on board an Indian fishing boat in a shoot-out from Enrica Lexie, an Italian flagged commercial boat, in the contiguous zone of India had been the subject matter of legal dispute before the Kerala High Court and the Supreme Court of India. The judgments of both Kerala High Court and the Supreme Court of India in regard to the Enrica Lexie incident dealt with the legal aspects of coastal state jurisdiction and the sovereign immunity available to the Italian marines under international law and the national law extensively. The views of the Supreme court on the coastal state jurisdiction with regard to Enrica Lexie incident appears to be final, despite the Court having allowed the Italian marines to re- agitate the jurisdiction issue in the Special Court, which will try the crimes committed by the Italian marines from Enrica Lexie . The investigation of the Enrica Lexie incident is now destined to go to the Special Court once the investigation is completed and charges are laid. The legal aspects of other post judgment developments such as Italy’s initial refusal to send back the Italian marines for trial in India and the consequential order of the Supreme Court restraining...
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...In recent year there has been increasing the number of special economic zones all over the world. Because it is one of the best way to attract foreign investments to the national economies of developing countires.Special eonomic zones are the region where the financial and economic laws are relaxed. Foreign investors would be ready to invest in an area if the conditions are favorable for their businesses. Many countries are using such kind of method to accelerate their eonomy and improve their facilities to the foreign investors which their investments can be reproduced in national eonomies. By creating certain areas within the country where taxes are reduced, financial and enviromental regulations are not so tough , and according to these criterias there are various types of special economic zones throughout the world. Free trade zones( FTZ) are tax-free area where goods can be landed and “value added”, through handling and manufacturing, and re-exported without the intervention of customs. Theese zones generally focus on labour intensive maufacturing goods, such as textile and eletrical equipment and which governments can increase the inflow of foreign currency and economic growth by exproting theese products. Free-trade zones are organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. Examples include Hong Kong, Singapore, Colón (Panama), Copenhagen, Stockholm, Gdansk (Poland), Los Angeles, and New York...
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...teelIRON AND STEEL INDUSTRY IN INDIA Corporate Catalyst India A report on Indian Iron and Steel Industry OVERVIEW 1.1 Background The Indian iron and steel industry is nearly a century old, with Tata Iron & Steel Co (Tata Steel) as the first integrated steel plant to be set up in 1907. It was the first core sector to be completely freed from the licensing regime (in 1990-91) and the pricing and distribution controls. The steel industry is expanding worldwide. For a number of years it has been benefiting from the exceptionally buoyant Asian economies (mainly India and China). The economic modernization processes in these countries are driving the sharp rise in demand for steel. The New Industrial policy adopted by the Government of India has opened up the iron and steel sector for private investment by removing it from the list of industries reserved for public sector and exempting it from compulsory licensing. Imports of foreign technology as well as foreign direct investment are freely permitted up to certain limits under an automatic route. This, along with the other initiatives taken by the Government has given a definite impetus for entry, participation and growth of the private sector in the steel industry. While the existing units are being modernized/expanded, a large number of new/greenfield steel plants have also come up in different parts of the country based on modern, cost effective, state of-the-art technologies. Soaring demand by sectors like infrastructure...
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...Swapna1 & N.Sujatha2 1 Dept. of Economics, Telangana University, NZB & Dept.of Economics, Osmania University, Hyderabad, India 2 Dept.of Economics, Osmania University, Hyderabad, India E-mail : Swapanjali111@gmail.com1 Abstract - The Indian Information Technology and Information Technology Enabled Services (IT-ITES) industry has been contributing its role in the economic development of India since post liberalization era. The pace growth of this industry is considered as a growth driver for the economy. India has become as “IT Super Power”. The performance of IT industry can be revealed with the evidence of its contribution to the GDP (Gross Domestic Product) of the country, provision of employment opportunities all over the country, IT services and software exports and revenue to the country. This paper examines how does the IT industry is playing its predominant role in Indian economy with its various trends in the contribution to the GDP of India , IT exports, IT revenue trends and employment opportunities. Keywords - IT-ITES, Contribution to GDP, Employment, Exports and Revenue. I. utilities and services for globally oriented businesses. The SEZ Act 2005 envisages key role for the State Governments in Export Promotion and creation of related infrastructure. A few salient features of SEZ scheme are as under: INTRODUCTION The Government of India has identified IT industry as one of the major industries in India and it plays an important role in...
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...Globalization is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture.[1][2] Put in simple terms, globalization refers to processes that promote world-wide exchanges of national and cultural resources. In particular, advances in transportation and telecommunications infrastructure, including the rise of the Internet, are major factors in globalization and precipitate further interdependence of economic and cultural activities.[3. Though several scholars situate the origins of globalization in modernity, others map its history long before the European age of discovery and voyages to the New World. Some even trace the origins to the third millennium B.C.E.[4][5] Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment. The term globalization is derived from the word globalize, which refers to the emergence of an international network of social and economic systems.[7] One of the earliest known usages of the term as the noun was in 1930 in a publication entitled Towards New Education where it denoted a holistic view of human experience in education.[8] A related term, corporate giants, was coined by Charles Taze Russell in 1897[9] to refer to the largely national trusts and other large enterprises of the time. By the 1960s, both terms began to be used as synonyms by economists and other social scientists. It then reached...
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...The Mumbai Police (also known as Brihanmumbai Police) is the police force of the city of Mumbai, India. It has the primary responsibilities of law enforcement and investigation within the limits of Mumbai. The department's motto is "Sadrakṣaṇāya Khalanigrahaṇāya" (Sanskrit: सद्रक्षणाय खलनिग्रहणाय, "To protect the good and to punish the evil"). Although considered one of the best police forces in the world for solving high profile, high stakes crimes, Mumbai police is also thought to be influenced by local politicians. It is headed by the Commissioner of Mumbai Police, who is generally an Indian Police Service (IPS) officer. The current commissioner is Arup Patnaik. Mumbai Police Has total 89 Police Stations in its Jurisdiction. For Administrative purpose Mumbai police is divided in to 12 Zones and one additional Port Zone. Police stations under Port Zone keep vigil on the Mumbai Port. Each Zone contains 3 to 4 Police Stations. Broadly Mumbai police is divided in to five regions namely Central, North, South, East and West. Each Region having 3 to 4 Zones. The in charge of each zone is a DCP. And In charge of Police station is Police Inspector commonly known as Sr. Police Inspector which is an honorary designation. Ranks of Mumbai Police Rank | Abbreviation | Strength | Commissioner of Police | C.P | 1 | Joint Commissioner of Police | Jt.CP | 5 | Additional Commissioner of Police | Addl. CP | 12 | Deputy Commissioner of Police | DCP | 38 | Additional Deputy...
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...Exim Policy 2002-2007 MARAN LAUNCHES FOCUS: AFRICA PROGRAMME NEW TERRITORIAL INITIATIVE TO BOOST TRADE WITH AFRICA Shri Murasoli Maran, Union Minister of Commerce & Industry, launched the "FOCUS: AFRICA" Programme giving a boost to India’s trade with the Sub-Saharan African Region, while announcing the first 5-year Exim Policy of the new millennium here today. The programme FOCUS:AFRICA is geared towards tapping the tremendous potential for trade with the sub-Saharan African region, which had remained negligible despite the growth recorded in India’s trade with Africa in recent years. The share of the sub-Saharan region in Africa’s total trade has grown from 45 per cent in 1995 to 71 per cent in 1999. During 2000-2001, India’s total trade with Sub-Saharan Africa was US $ 3.3 billion. Out of this, India’s exports accounted for US $ 1.8 billion and imports were US $ 1.5 billion. In the first phase of the "FOCUS: AFRICA" Programme, the target countries identified are: Nigeria, South Africa, Mauritius, Kenya, Ethiopia, Tanzania and Ghana. These seven countries accounted for nearly 70 per cent of India’s total trade with the Sub-Saharan African Region during 2000-2001. Similarly, certain target commodities for export focus have also been identified. These are: • Cotton yarn, fabrics and other textile items; • Drugs & pharmaceuticals; • Machinery & instruments; • Transport equipment; and • Telecom and information technology In...
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... ❖ The power sector in India is mainly controlled by the Government of India’s Public Sector Undertakings (PSUs), have 31.34% (54412.63MW) of total installed capacity of 173626.40 MW (as on 31/03/2011) in India is being produced by them. ❖ Major PSUs involved in the generation of electricity include National Hydroelectric Power Corporation (NHPC) National Thermal Power Corporation (NTPC), and Nuclear Power Corporation of India (NPCIL). ❖ Besides PSUs, several state-level corporations are there which accounts for about 47.49% of overall generation, such as Jharkhand State Electricity Board (JSEB), Maharashtra State Electricity Board (MSEB), Kerala State Electricity Board (KSEB), etc. are also involved in the generation and intra-state distribution of electricity. ❖ Other than PSUs and state level corporations, private sector enterprises also play a major role in generation, transmission and distribution, about 21.17% (36761.19MW) of total installed capacity is generated by private sector. ❖ The Power Grid Corporation of India is responsible for the inter-state transmission of electricity and the development of national grid. ❖ India is world’s 6th largest energy consumer, accounting for 3.4% of global energy consumption. ❖ Due to India’s economic rise, the demand for energy has grown at an average of 3.6% per annum over the past 30 years. ❖ At the end of Oct. 2010, the installed power generation capacity of India stood at 171926.40 MW, while...
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...Strengthening the manufacturing sector | | For India to become a solid manufacturing hub, we need land for industrial development. | | | Consider the stakes. India, the second largest populous country and the fourth largest economy that accounts for 4.6 percent of the world's gross domestic product, had manufacturing registering only 16 per cent share of its GDP since the 1980s. Nothing could be more expedient than a national manufacturing policy (NMP) – approved recently by the Union cabinet – that targets hiking up the share to 25 per cent by 2022, hoping to build national investment and manufacturing zones (NIMZ) with state-of-the-art facilities. The bottomline would surely be the generation of 100 million jobs over 10 years. India is now one of the top 10 industrial nations of the world with a 1.5 per cent share in manufacturing value added (MVA), according to the International Yearbook of Industrial Statistics 2011 report. Ironically, in 2007, India’s exports were only 1 per cent of the world’s total despite its low labour costs and large population. With the US, Japan and China occupying the top three slots, India ranks 12th (according to Global Insight and the ‘Financial Times’) in the pecking order of manufacturing nations. That manufacturing – rightly considered as the main engine for economic growth and creation of wealth – suffered attention deficit for so long could both be an outcome of misplaced focus and systemic failure. It is more evident from...
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...over Rs 6,200 crore under the public private partnership (PPP) route. The state government completed one port project worth over Rs 700 crore under PPP and it has been put to service delivery, a study conducted by the Associated Chambers of Commerce and Industry of India (Assocham) shows. The industry body released the report titled 'Port Developments in India'. DS Rawat, Secretary General of Assocham said 62 projects in the port sector worth over Rs 82,000 crore are in different stages of implementation under the PPP model. To put it in perspective, in all 881 PPP projects worth over Rs 5.4 lakh crore are taken up across India in different sectors. While there are 31 completed port projects worth over Rs 24,700 crore, about 21 PPP projects in the port sector with a share of 52 percent worth over Rs 43,000 crore are under construction, eight projects worth about Rs 14,000 crore with a share of about 17 percent are under bidding. International Container Transhipment Terminal Vallarpadam Terminal The Kochi International Container Transhipment Terminal (ICTT), locally known as the Vallarpadam Terminal. is a container trans-shipment facility which is part of the Kochi Port. It is the only trans-shipment port in India, and is situated in Kochi, in the state of Kerala.The terminal is biggest in its kind in South Asia Being constructed in three stages, the first phase of the terminal was commissioned on Feb 11, 2011. This can handle cargo up to one million TEUs (twenty-foot equivalent...
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