...Introduction to Economic Zones “Export else perish “ these are the words of first Prime Minister of India Pt. Jawaharlal Nehru. India being a continent like country having 30 states, more than 1000 languages and world second largest man power having diversified natural conditions right from Rain Forests of Kerala, Ice Mountains of Himalaya, Runn of Kuch to productive land of Bramahaputra has great potentials of world class export worthy products from various industries like Agriculture, Engineering, Chemicals, Software’s, Gems and Jewellry, Pharmaceuticals, Bio technology and many more. During last fifty years, mostly ours exports have been less than our imports and the balance of trade been unfavorable. In 1990-1991 India had faced real pressure on the balance of payment. During this period, exports had stagnated and there was a crisis in foreign reserves which lead to an emergency situation in India. Liberalization policy was announced in June 1991. It is the precious gift of Dr Manmohan Singh to the people of India at a time when the country was in the grip of unprecedented economic crisis and political turmoil. One of the areas in which this policy focused on was on increasing India’s export. And the trickle down effect of these reforms has lead to the advent of SEZ In this age of Globalisation, there is a need for every nation in the world to perform well economically. With the improvements in science and technology and the raising standards of living worldwide...
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...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 of SEZs in India...
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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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...Targeting the Aviation sector. Reasons to consider the Aviation sector: 1. India is one the fastest growing aviation markets and currently the ninth largest civil aviation market in the world and is projected to be the 3rd largest aviation market by 2020 2. The Indian aviation sector is likely to see investments totaling USD 12.1 Billion during 2012-17; USD 9.3 Billion is expected to come from the private sector. 3. Although Indian aerospace industry is in nascent stage contributing to mere 0.25% to the global industry, it has shown tremendous growth over the years growing at nearly 20% per year since 2004. India‘s total exports for the sector stood at US$ 1.5 billion in 2010, out of which more than 96% of the contribution was from aircraft parts. 4. 100% FDI is allowed under the automatic route in the auto and aircraft components sector, subject to all the applicable regulations and laws. 5. India is fourth largest producer of steel in the world and Cost of making steel significantly lower than competitive nations. 6. India is an emerging global hub for sourcing auto and aerospace components. 7. India has the third largest pool of scientists and technicians in the world. Skilled manpower is available in abundance in Semiconductor Design and Embedded Software. So, strong design and R&D capabilities in the field of auto electronics and industrial electronics can be achieved. Specific manufacturing processes in aviation industry: Aviation industry has six core...
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...the leading commercial private sector ports in India. The port is located in the Kutch District of Gujarat, on the northwest coast of India. The multi-product SEZ at Mundra and the surrounding areas is one of India's largest port-led SEZ. Incorporated as Gujarat Adani Port Limited in 1998, MPSEZL is a part of the Adani Group, one of India's leading business houses. The Company accessed the capital markets in 2007-08 and is listed on the National Stock Exchange of India and the Bombay Stock Exchange. The port The por t handles close to 30 million tonnes of cargo, ranging from bulk cargo, container cargo, automobiles and crude oil. It has 8 operational multi-purpose berths located in sufficiently deep water which are designed and equipped to handle dry bulk, break bulk and liquid cargo. We have successfully commissioned a container terminal capable of handling one million Twenty-feet Equivalent Units (TEU) with state-of-the-art handling equipment’s and highly skilled and productive operating manpower. The container terminal has an excellent draft and is capable of accommodating cape size ships. The terminal is configured to handle automobile exports too. Other port based services and infrastructure include storage facilities for bulk, dry and liquid cargo, single point mooring to handle crude oil and services for rail movement of cargo. The port is connected by rail, road, air and pipeline to the transportation net work of India. Our private operational aerodrome is suitable...
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...Introduction The SEZ policy represents the latest and perhaps the finest thinking so far on India's export policy and may even represent the future of industrial development strategy in 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...
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...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 achieving the policy objectives like economic...
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...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. The issue of efficiency in the context of functioning of SEZ indisputably forms the core of...
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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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...Table of Contents Objective 3 Introduction 4 The Real Estate Sector in India 4 A Brief about DLF: 5 Demand and Supply Scenario 6 Reasons for growth in Real Estate Sector: 9 Demand Side: 10 Supply Side: 11 Production and Cost Structure 12 Market Structure and Player’s Strategy 14 STRATEGY FOLLOWED (Player Considered: DLF): 15 Observations and Analysis 18 References 20 * Objective The sector chosen for our project is Real Estate Industry. The objective of our project is to deeply analyze the Real Estate Industry in India. Our Analysis includes Demand and Supply in the real estate market, Production and Cost analysis, Consumer behavior effect on demand and costs. We have further analyzed the Market structure of Real Estate Industry and the different strategies about by different players. During our Analysis we have taken DLF infrastructure as an illustration to reflect some concepts, facts and figures about Real Estate Industry. * * * Introduction * The Real Estate Sector in India The real estate sector in India is flourishing rapidly with a growth rate of 30 percent each year. About 80 percent of the real estate development in India has been in the field of residential housing. The remaining 20 percent of the real estate includes office, shopping malls, entertainment centers, hotels, multiplexes and hospitals. India’s booming outsourcing business industry and consumption-led growth are contributing significantly...
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...P age |1 Summer Internship Project “Scope of investment in Real Estate in India & Real State investment: A case study of Jaipur region” Submitted in partial fulfillment of PGDM program 2011-13 Submitted by: Harshit Jain 19/093 Corporate Mentor Mr Shantanu Mehra ( Channel Retail Sales Head) Faculty Mentor Mrs. Monica Arora (Assistant Professor) Apeejay School of Management New Delhi July 2012 SIP Project Report BY: Harshit Jain(harshitjain.asm@gmail.com) | 1 P age |2 CERTIFICATE This is to certify that the project work done on” Scope of investment in Real Estate in India & Real State investment: A case study of Jaipur region ” Submitted to Apeejay School of Management, Dwarka by Harshit Jain in partial fulfillment of the requirement for the award of PG Diploma in Business Management, is a bonafide work carried out by him/her under my supervision and guidance. This work has not been submitted anywhere else for any other degree/diploma. The original work was carried out during 14th may 2012 to 5th june 2012 in Customer First Concepts , Pvt. Ltd.( Currently working as a Marketing division of various townships in Jaipur region ). Date: Seal/Stamp of the Organization Name of the faculty Mentor SIP Project Report BY: Harshit Jain(harshitjain.asm@gmail.com) | 2 P age |3 Acknowledgements This summer internship project would not have been possible without the support of many people . I wish to express my sincere gratitude to my Faculty Mentor...
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...suggested for ensuring development of shipbuilding sector in India. It is believed that this will remove the structural weakness of the industry as well as address other concerns. Dedicated SEZ All ships including dredgers imported by Indian owners from abroad are fully exempted from customs duty. Hence the existing shipbuilding industry is totally unprotected. In fact customs duty of the order of about 35% is imposed on all capital equipment required for shipbuilding even though this measure does not protect any industry in India. There is therefore a need to accord export status for building ships which are built in India for Indian owners. Both existing and future shipyards...
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...Foreign Direct Investment (FDI) to India Ramkishen S. Rajana, Sunil Rongalab and Ramya Ghoshc April 2008 --------------------------a) George Mason University, Virginia, USA. E-mail: rrajan1@gmu.edu . b) International Professional Services Organization, Hyderabad, India. E-mail: sunil.rongala@gmail.com c) Claremont Graduate University, California, USA. Email: ramya.ghosh@cgu.edu We thank Rajeev Ranjan Chaturvedy for useful research assistance. The usual disclaimer applies. 2 1. Introduction Economic policymakers in most countries go out of their way to attract foreign direct investment (FDI). A high level of FDI inflows is an affirmation of the economic policies that the policymakers have been implementing as well as a stamp of approval of the future economic health of that particular country. There is clearly an intense global competition for FDI. India, for its part, has set up the “India Brand Equity Foundation” to try and attract that elusive FDI dollar. According to UNCTAD (2007), India has emerged as the second most attractive destination for FDI after China and ahead of the US, Russia and Brazil. While India has experienced a marked rise in FDI inflows in the last few years (doubling from an average of US$5-6 billion the previous three years to around US$ 19 billion in 2006-07) (Figure 1), it still receives far less FDI flows than China or much smaller economies in Asia like Hong Kong and Singapore was ahead of India (Figure 2). Not surprisingly India’s...
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...Module 1 Basic Concepts Assessment Year Previous Year Uniform Previous Year Previous year in case of newly set up business/profession Income of previous year not taxable in assessment year Income of nonresidents from shipping Income of persons leaving India permanently or for a long period of time. Income of bodies formed for short duration Income of persons trying to alienate his assets with a view to avoiding payment of tax. Income of discontinued business. Person [Sec 2(31)] Individual Hindu undivided Family A company A Firm An Association of persons or body of individuals, whether incorporated or not A local authority Artificial judicial person Assessee [Sec 2(7)] Assessee means a person by whom income-tax or any other sum of money is payable under the Act. Every person in respect of whom any proceeding under the Act has been taken for the assessment of his income or loss or the amount of refund due to him. A person who is assessable in respect of income or loss of another person. A person who is deemed to be an assessee, or an assessee in default under any provision of the Act. Income under Income tax Act u/s 2(24) Profits and Gains Dividend Voluntary Contributions received by a Trust Perquisites in the hands of employee Any Special Allowance or benefit City Compensatory or Dearness Allowance Any benefit or perquisite to a director Any benefit or perquisite to a representative assessee Income under Income...
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...Introduction There are many important years in the history of India, but as far as economic history is concerned, the year 1991 has definitely to be termed as a “landmark”. The economic reforms of the 1990s included, significant industrial and trade liberalization, financial deregulation, improvements in supervisory and regulatory systems and policies more conducive to privatization and Foreign Direct Investment (FDI) (Gopinath, 2008). The emergence of the software and services outsourcing industry in India is one of the most visible outcomes of globalization, stimulated by the spread of modern Information Communication and Entertainment Technologies (ICETs) and the restructuring of global capitalism since the 1980s (Upadhya, 2006). Consequent to these reforms phenomenon, key cities in India are in the midst of restructuring space, in terms of both use and form. The Liberalization, Privatization and Globalization (LPG) policies of the government of India and opening up of FDI in real estate sector have brought a big boom in the development of large scale private townships variously known as Integrated, NRI or High-Tech townships. These kind of townships are coming up on the peripheral areas of large cities like Mumbai, Pune, Delhi, Gurgaon, Chennai, Hyderabad, Ahmedabad and Bangalore occupying areas up to 1000 acres and beyond. Rapid urban growth, marked by the number of million-plus cities increasing from 23 in 1991 to 35 in 2001, has led to the problems of urban sprawl,...
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