A company, a partnership, a co-operative society or an individual can file an application to setup a special economic zone (SEZ) in India. Exports out of SEZs, during the 2011-12 financial year, were valued at Rs.3,64,477.73 crore.
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As China spreads its growing tentacles across Latin America, India is moving to forge a multi-layered partnership with the resource-rich region that is projected to be the next big frontier for Indian diplomacy. Building upon its cumulative expansion of trade with the region which has now reached USD25 billion and investments touching USD15 billion, India will host its maiden dialogue with a troika of foreign ministers of the Community of Latin American and Caribbean States (CELAC) on August 7.
Karnataka plans to operate 'bullet trains' across the state to provide high-speed connectivity between its tech hub Bangalore and Mysore, Belgaum and Gulbarga in the northern region of the state. "We are in discussion with Japanese experts who have built and operate bullet trains in their country, especially between Tokyo and Osaka, to provide high-speed rail connectivity between Bangalore and Mysore (150km), Bangalore and Belgaum (610km), and Bangalore and Gulbarga (585km)," state Industry Minister Murgesh Nirani told reporters.
Washington and New Delhi must 'continue to expand trade and investment', US Secretary of State Hillary Clinton said. The two countries, she added, have to work to meet the challenges and seize opportunities in South and Central Asia.
Tax exemptions and related benefits were imperative to promote special economic zones (SEZs) across the country, as they account for 30 percent of total exports and provide employment opportunities, industry lobby Associated Chambers of Commerce and Industry of India (ASSOCHAM) stated.
Around 40 stalls and exhibitions from India and various African countries showcasing opportunities in infrastructure, automobiles, clean energy solutions, handicrafts and tourism greeted some 1,100-odd delegates who attended this year's India-Africa Project Partnership Conclave.