Regulation & trade round-up
Published: June 07, 2005
- India has a new Special Economic Zone Bill that stipulates a single clearance and approval mechanism for both the establishment of special economic zones and for companies seeking to set up operations in such zones. In addition, the bill provides fiscal incentives to both developers of such zones and to companies operating in them. The bill also seeks to set up a single enforcement agency, responsible for the quick investigation and resolution of offences committed in such zones. Additionally, the bill sets up a legislative framework for establishing offshore banking units.
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