Latest news with #SEZ
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Business Standard
2 days ago
- Business
- Business Standard
India's first AI SEZ to be set up in Nava Raipur with ₹1K cr investment
It will be a special area, which is being prepared only for the development and operation of technologies related to AI and computer data, a senior state government official said Premium R Krishna Das Raipur Listen to This Article The Chhattisgarh government is planning to set up the country's first artificial intelligence (AI)-based Special Economic Zone (SEZ) in its capital Nava Raipur. It will be a special area, which is being prepared only for the development and operation of technologies related to AI and computer data, a senior state government official said. There will be state-of-the-art computer systems and servers and companies from across the world will do their digital work from Chhattisgarh, the official added. The government has given tax and other legal exemptions to the SEZ so that new technologies can be developed rapidly. 'This is the
Time of India
3 days ago
- Business
- Time of India
India's first AI-focused SEZ to come up in Chhattisgarh
India's first AI SEZ in Chhattisgarh RackBank to invest Rs 1000 crores Raipur: In a landmark development, India's first Artificial Intelligence (AI)-centric Special Economic Zone (SEZ) will be established in Nava Raipur in Chhattisgarh. Designed exclusively for the advancement and operations of AI and computer data technologies, the government expects it to catapult the region into the national and global spotlight as a leading digital and technological hub. The project will be spearheaded by a private limited data company with an estimated investment of Rs 1000 crore. Spanning approximately over six acres, the SEZ will feature a state-of-the-art 1.5 lakh square feet data center, equipped with high-performance computing systems and servers capable of powering advanced AI requirements. Four high-density data centers are planned to support digital infrastructures across multiple states. Chief Minister Vishnu Deo Sai lauded the project as a 'new beginning for the state', highlighting its potential to generate employment for the youth and establish the state as a technological force on the national stage. He emphasized that the AI SEZ aligns seamlessly with the visions of Digital India and Make in India. 'This initiative is a strategic leap that positions India not just as a consumer of AI services, but as a self-reliant producer and host,' said Narendra Sen, CEO of RackBank Data Centers Pvt Ltd, at the event announcing it. He added that the data center will create jobs for IT engineers, data scientists, cybersecurity professionals, and network managers. The company plans to collaborate with ITIs, engineering, and polytechnic colleges of the state to launch specialized training programs, preparing students for future roles in the AI industry. The ambitious plan of this SEZ thinks that Global giants like Google, OpenAI, Microsoft, and Meta may host their AI services from this center. For the first time, India will not merely consume these services but also offer a domestic base for their operations, marking a new jump of the state in future technologies. The state government thinks that beyond its technical significance, the project promises wide-ranging socio-economic impact. Students from remote and tribal regions will have national and international level opportunities right in the state. The plan projects that in a world increasingly shaped by artificial intelligence, across language, education, health, and agriculture, this SEZ represents a bold step toward positioning Chhattisgarh inside India and outside, at the forefront of the digital revolution.
Fibre2Fashion
4 days ago
- Business
- Fibre2Fashion
India to restore RoDTEP benefits for AA, EOU & SEZ exports from June 1
Government of India has reinstated Remission of Duties and Taxes on Exported Products (RoDTEP) scheme benefits for Advance Authorisation (AA) holders, Export-Oriented Units (EOUs), and Special Economic Zone (SEZ) units. Applicable from June 1, 2025, the move aims to strengthen India's export competitiveness and ensure parity across all exporter categories. These benefits had earlier lapsed on February 5, 2025. Their restoration signals the government's ongoing commitment to boosting merchandise exports by offsetting unrefunded embedded duties and taxes. Since its launch on January 1, 2021, the WTO-compliant scheme has disbursed over ₹57,976.78 crore (~$6.8 billion), the Ministry of Commerce & Industry said in a press release. Indian government has reinstated RoDTEP benefits for AA holders, EOUs and SEZ units from June 1. The move aims to enhance export competitiveness and ensure parity across exporter categories. Earlier withdrawn in February 2025, the scheme has disbursed over ₹57,976.78 crore (~$6.8 billion) since 2021. For FY26, ₹18,233 crore is allocated to support a wide range of HS lines via a digital platform. For FY26, ₹18,233 crore has been earmarked to support exports under 10,780 HS lines for Domestic Tariff Area and 10,795 HS lines for AA/EOU/SEZ segments. The scheme is operated through a fully digital platform to ensure transparency and ease of access for exporters. Fibre2Fashion News Desk (KD)
Mint
5 days ago
- Business
- Mint
Level playing field: Government restores duty, tax benefits for certain categories of exporters to boost competitiveness
ew Delhi: The government has decided to restore certain tax and duty benefits for specified categories of exporters in a move aimed at reviving the competitiveness of India's overseas trade. 'The Government of India has announced the restoration of benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exports made by Advance Authorization (AA) holders, Export-Oriented Units (EOUs), and units operating in Special Economic Zones (SEZs),' the commerce and industry ministry said in a statement on Tuesday. 'The benefits will be applicable for all eligible exports made from 1 June.' The reinstatement comes about four months after the benefits for these categories were suspended, causing concern among exporters reliant on duty-free schemes. The decision is part of a broader effort to ensure a level playing field for all exporters, irrespective of the route they use. The RoDTEP scheme had been operational for exports from domestic tariff areas (DTA) even after the benefit was withdrawn for AA, SEZ and EOU shipments on 6 February this year. The RoDTEP scheme, introduced in January 2021 after the World Trade Organization ruled against India's earlier export incentive programmes, is meant to neutralise the burden of non-creditable taxes and levies—such as electricity duties and mandi fees—that are not refunded through other mechanisms. Its design is WTO-compliant, and it is entirely digital, allowing for direct transfer of benefits to exporters. Exporters said the restoration offers relief when global demand remains uneven and domestic exporters are coping with thin margins. For small and medium enterprises (SME), which often operate on tight margins, such financial support can make a meaningful difference in pricing their products competitively. "This is a much-needed relief for the SME export community. The withdrawal of RoDTEP benefits earlier this year had disrupted pricing models for many small and mid-sized exporters, especially those operating through SEZs and under advance authorisation. Restoring these incentives will help us compete more confidently in global markets," said Vinod Kumar, president of the India SME Forum. According to government data, India disbursed over ₹ 57,976 crore in RoDTEP benefits from January 2021 to March 2025. The government has earmarked ₹ 18,233 crore for the scheme in FY26. The benefits will now support 10,780 trade lines for DTA exports and 10,795 product lines for AA, SEZ, and EOU shipments, suggesting that the government intends to ensure broad sectoral support. While industry leaders largely welcomed the move, some of them said the effectiveness of the reinstatement will depend on timely reimbursements and clarity in claim processing. The decision is seen as a much-needed correction in policy, reaffirming India's intent to create a predictable and equitable export regime amid tightening global competition, said Arun Kumar Garodia, former chairman of the Engineering Export Promotion Council. According to Ajay Srivastava, co-founder of the Global Trade Research Initiative (GTRI), the government's stop-and-start approach to RoDTEP undermines the scheme's very purpose and its repeated withdrawal for key export categories creates serious uncertainty. 'Exporters, especially SMEs, find it difficult to price products or commit to long-term contracts when they cannot rely on consistent support," Srivastava said. "The reinstatement of benefits from 1 June is a welcome step, but it also raises a fundamental question—why were they cut off mid-cycle in the first place? If India wants to position itself as a predictable and competitive export hub, RoDTEP coverage must be uninterrupted for at least five years. Frequent policy shifts erode trust and hurt our export credibility in global markets.' Micro, small and medium enterprises contribute about 45% of India's total exports, playing a key role in sectors such as textiles, engineering goods, pharmaceuticals, and gems & jewellery. The total number of MSMEs registered on the Udyam Registration Portal and Udyam Assist Platform was almost 59 million as of 31 January 2025. From 1 July 2020 to 31 January 2025, 71,178 units were deregistered because they had shut down. The data also indicated that 203 million people were employed in MSMEs as of 16 July 2024.
Muscat Daily
5 days ago
- Business
- Muscat Daily
Oman, UAE sign deal to develop SEZ in Mahdah
Muscat – Public Authority for Special Economic Zones and Free Zones (OPAZ) and Mahadha Development Company, a joint Omani-Emirati venture led by DP World, have signed an agreement to develop and operate the first phase of Al Rawdah Special Economic Zone in Mahdah, Buraimi. The signing ceremony was held in the presence of H H Sayyid Theyazin bin Haitham al Said, Minister of Culture, Sports and Youth, and Sheikh Hamdan bin Mohammed bin Rashid al Maktoum, Crown Prince of Dubai, and Deputy Prime Minister and Minister of Defence of the United Arab Emirates (UAE). The agreement was signed by Ahmed bin Hassan al Dheeb, Vice-Chairman of OPAZ, and Sultan Ahmed bin Sulayem, Chairman and CEO of DP World. According to Dheeb, the special economic zone (SEZ) aims to support job creation, attract advanced technologies and contribute to sustainable development. He noted that its strategic location on the Oman-UAE border provides access to the ports of Suhar and Jebel Ali, improving logistics and market reach across Gulf, Asian and African regions. Sulayem described the project as a 'new chapter' in the economic relations between Oman and the UAE. 'We are committed to developing a world-class platform that will create new opportunities for growth, strengthen connectivity and bring long-term economic value to both our nations.' Under a 50-year usufruct agreement, Mahadha Development Company will initially develop 14sqkm, with the option to expand to 25sqkm. The developer is responsible for infrastructure, public utilities, environmental studies, and master planning covering industrial, commercial and service sectors. The first phase will target key industries including manufacturing, logistics, pharmaceuticals, mining, food processing, plastics and safety services. The SEZ will offer investment incentives including a ten-year income tax exemption, customs duty waivers on imports and exports, and 100% foreign ownership. Strategic projects will benefit from single-window approvals. The project also aims to support tourism, enhance the region's business environment, and create opportunities for small and medium enterprises.
