SEZs had lost sheen after imposition of certain levies and proposal to take away tax incentives

The government is expected to come out soon with new norms to revive special economic zones (SEZs), which have lost sheen after imposition of certain levies and proposal to take away tax incentives, a government official said. "The Commerce and Finance Secretaries are discussing all the issues relating with these zones.

New Delhi Says commerce ministry’s suggestion for change in norms will only facilitate ‘land grabbing by pvt sector’

Finance ministry has strongly opposed the proposal to further liberalise the norms for Special Economic Zones (SEZs), saying the commerce ministry’s suggestion will only facilitate “land grabbing by the private sector”. The commerce ministry recently sought relaxation in the minimum area requirement and the land contiguity norms for SEZs in a bid to prop up export growth from these zones. Growth in exports from SEZs is still in double digits, but lower than overall export growth, raising questions over the need for these enclaves that enjoy sundry tax sops

Experts say the progress and implementation of projects would depend upon the availability of land

The Commerce and Industry Ministry today said it is in the process of conducting a detailed environmental impact assessment for the $100 billion Delhi-Mumbai Industrial Corridor project (DMIC). "Detailed environmental impact assessment for all the six cities is in progress and we are aiming to secure pre-clearances to ensure speedy implementation," a statement quoting Commerce and Industry Minister Anand Sharma said.

The government has extended ban on import of milk and its production from China for one more year.

A notification to this effect was issued by the Directorate General of Foreign Trade late Monday evening which says that milk and its products would continue to be banned from China until June 23, 2012 or further orders, whichever is earlier. The prohibition of import includes chocolates and chocolate products and candies/ confectionary/ food preparations with milk or milk solids as an ingredient.

The country’s top food regulator’s advisory to extend ban on milk and milk products from China for another one year from June 24 is yet to be notified by the Directorate General of Foreign Trade (D

Many doors open: Partha

The Sistema dispute could cost India a chance to bid for a stake in Russian government owned Alrosa, the world’s second largest diamond producing company after DeBeers.

India may soon be allowed to export rice to China.

Airlines whose carbon emissions are more than prescribed cap have to reduce emissions or pay for it

The European Union (EU) has decided it would not ban foreign airlines that have refused to share their carbon emission data from entering EU airspace. However, it said stringent financial penalties would be imposed if these failed to comply with the laws by January 2013. Refusal to share carbon emission data is a violation of the EU’s emissions trading system (ETS) laws.

With the Rs 28,000-crore refinery project of Indian Oil Corporation Ltd (IOCL) at Paradip under a cloud of delay, the Odisha government has decided to ink an MoU (Memorandum of Understanding) with the oil marketing firm to stipulate timeline and milestones for commissioning of the project.

IOCL being the anchor tenant for the PCPIR hub (Petroleum, Chemical and Petrochemical Investment Region) to be set up in 70,214 acres of land spread over Jagatsinghpur and Kendrapara districts, the timely commissioning of the refinery was vital for attracting investors for the mega investment hub.