Mumbai strike to hit India Inc
Mumbai: The Mumbai bandh called today by the Shiv Sena-Bharatiya Janata Party combine to protest against the state government’s "laxity towards security" in wake of the Ghatkopar bus bomb blast, will affect the functioning of industry in the city. The bandh has affected India Inc. Companies like Reliance Industries Ltd (RIL) has decided to reschedule their board meetings for announcing their quarterly results. The RIL board was to meet today to take on record its first-quarter results of the current fiscal. The board meeting has been postponed to 31 July in view of the bandh.

The bandh will also affect tradings on the Bombay Stock Exchange and the National Stock Exchange (NSE) as most of the trading takes place electronically on the computer screen. Dealers were quoted as saying that trades in the call, debt and forex markets will be affected. The Reserve Bank of India’s clearing house operations are also to get affected.
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Rajasthan starts gems-and-jewellery SEZ
Jaipur: The Rajasthan state government has started a special economic zone (SEZ) for gems and jewellery to tap rising exports in the sector, which are estimated to touch Rs 2,000 crore soon. The project will be set up over an area of 21.5 acres of land located at Sitapur and will cost Rs 7.21 crore. It will be developed within 12 months by Rajasthan Industrial Investment Corporation (RIIC). The SEZ is proposed to be a specially delineated duty free zone treated at par with a foreign territory for the purpose of industrial, service and trade operations with exemptions from customs duties and will provide a more liberal regime to lure foreign investments among other things.

Units located within the zone will be allowed to generate power for self consumption and will be entitled for exemption from payment of electricity duty on the generation of power for use within the zone for 10 years. Distribution companies as well as transmission companies shall provide separate sub-station and separate feeder to the zone without any additional charges. Industrial units generating power will also be allowed to sell power to other units or RPVN as per the rate prescribed in the state’s captive power plant policy.
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