HT Image
HT Image

Country's first IT hardware SEZ on anvil in West Bengal

West Bengal will have the country's first IT hardware special economic zone for which 40 acres of land have already been acquired.
By HT Correspondent | PTI, Kolkata
UPDATED ON AUG 26, 2007 01:58 PM IST

If things go smoothly, West Bengal will have the country's first IT hardware special economic zone for which 40 acres of land have already been acquired.

City-based RP Group, a Rs 400 crore company with diversified interests including Chirag brand of computers, has submitted a proposal for the IT SEZ with the state government and waiting for approval from the Centre.

"We hope to get all necessary clearances by the end of this fiscal," RP Group chairman Kaustav Ray told PTI.

Ray said his company had already acquired 40 acres of land in Baruipur in South 24-Parganas district for setting up the SEZ at a cost of Rs 1,000 crore.

Former ONGC chairman and managing director Subir Raha, who joined the RP Group board recently, is assisting the group in implementing the project.

"If we face problem, we will shift our project to other tax haven states," Ray said.

Asked how the investment would be financed, Ray said it would be partly financed through a combination of internal accruals, fresh capital from venture funds and debt.

"We are in the process of raising venture capital for the project. We are looking forward to raising Rs 500 crore through this route. In the first tranche we hope to get Rs 100-150 crore shortly," Ray said.

SHARE THIS ARTICLE ON
Close
Customers are paying more in taxes than the base price for petrol and diesel according to the latest price data for petrol and diesel.(Amal KS/ Hindustan Times)
Customers are paying more in taxes than the base price for petrol and diesel according to the latest price data for petrol and diesel.(Amal KS/ Hindustan Times)

Case to get petrol, diesel under the ambit of GST

By Roshan Kishore, Hindustan Times, New Delhi
UPDATED ON MAR 05, 2021 07:35 AM IST
  • At a time when petrol and diesel prices are at an all-time high, and taxes have a bigger component in the retail price than the base price of the fuels, it is worth revisiting the debate
Close
To be sure, Sapre is also a member of the Mutual Funds Advisory Committee (MFAC) of Sebi.(Bloomberg News)
To be sure, Sapre is also a member of the Mutual Funds Advisory Committee (MFAC) of Sebi.(Bloomberg News)

FT should be probed by Sebi and not ED or cops, says Amfi

By Neil Borate, Hindustan Times, Mumbai
PUBLISHED ON MAR 05, 2021 12:55 AM IST
  • The ECIR is reportedly based on an FIR filed by the Chennai police under Section 420 of the IPC on the basis of a complaint by the Chennai Financial Markets and Accountability (CFMA), an organisation that fights for investors’ rights.
Close
Representational image of wearable technology.(Unsplash)
Representational image of wearable technology.(Unsplash)

Wearables market grew 144% in ’20 on remote working shift

By Abhijit Ahaskar, Hindustan Times, New Delhi
UPDATED ON MAR 05, 2021 06:42 AM IST
  • Shipments in the December quarter grew at a higher rate of 198% annually with 15.2 million units.
Close
In February, Reliance Retail said it is building its own supply chain by converting its Reliance Market stores into fulfilment centres, to further the reach of its new commerce venture, JioMart, and expedite deliveries..(Bloomberg)
In February, Reliance Retail said it is building its own supply chain by converting its Reliance Market stores into fulfilment centres, to further the reach of its new commerce venture, JioMart, and expedite deliveries..(Bloomberg)

E-com boom sets off a scramble for warehouses

By Kalpana Pathak, Tanya Thomas, Hindustan Times, Mumbai
PUBLISHED ON MAR 05, 2021 12:12 AM IST
  • The companies are also opting for large boxes for storage, with around 400,000-plus sq. ft being the average demand.
Close
Capco’s clients include top companies in the financial services and energy and commodities trading sectors.
Capco’s clients include top companies in the financial services and energy and commodities trading sectors.

Wipro to acquire UK consultancy Capco for $1.45 billion

By Ayushman Baruah
PUBLISHED ON MAR 05, 2021 12:05 AM IST
  • The latest acquisition is Delaporte’s boldest move to spur growth after the company ceded its position as India’s third-largest software services provider to HCL Technologies Ltd.
Close
Deliberations are at an early stage and Flipkart could still explore other options, the people said.(REUTERS)
Deliberations are at an early stage and Flipkart could still explore other options, the people said.(REUTERS)

Flipkart mulls US listing through the SPAC route

Bloomberg
PUBLISHED ON MAR 05, 2021 12:02 AM IST
  • The Bengaluru-based online retailer has been weighing a US initial public offering and it’s now also looking at other options, the people said.
Close
Two of the people said OMCs have already built a cushion of <span class='webrupee'>₹</span>2-3 per litre even as international oil prices have fallen after reaching a 13-month peak on February 24.
Two of the people said OMCs have already built a cushion of 2-3 per litre even as international oil prices have fallen after reaching a 13-month peak on February 24.

Fuel retailers may cut rates in run-up to polls

By Rajeev Jayaswal
UPDATED ON MAR 05, 2021 06:40 AM IST
  • While the base price of petrol is 33.26 per litre, it attracts 32.90 a litre central excise and 21.04 per litre local levies in Delhi.
Close
People stand outside the headquarters of the Organization of the Petroleum Exporting Countries, OPEC, in Vienna. (AP File Photo )
People stand outside the headquarters of the Organization of the Petroleum Exporting Countries, OPEC, in Vienna. (AP File Photo )

OPEC+ to extend most oil cuts into April, Saudi to keep voluntary cut

Reuters, Dubai, Moscow
PUBLISHED ON MAR 04, 2021 11:27 PM IST
The news pushed oil prices back towards their highest levels in more than a year with Brent trading up 5% above $67 a barrel as the market had expected OPEC+ to release more barrels.
Close
OPEC+ cut output by a record 9.7 million bpd last year as demand collapsed due to the pandemic.(AP)
OPEC+ cut output by a record 9.7 million bpd last year as demand collapsed due to the pandemic.(AP)

OPEC+ meet on oil output with Saudi, Russia seeing fragile recovery

Posted by Harshit Sabarwal | Reuters
PUBLISHED ON MAR 04, 2021 10:12 PM IST
Saudi Energy Minister Prince Abdulaziz bin Salman and Deputy Prime Minister Alexander Novak, lynchpins in the OPEC+ group, have to decide with their allies whether a rally in oil prices is enough to warrant more supply or if uncertainty about the coronavirus crisis should encourage more caution.
Close
UK investigates Apple's App Store for 'stifling competition' and 'hurting consumers' (Reuters File Photo)
UK investigates Apple's App Store for 'stifling competition' and 'hurting consumers' (Reuters File Photo)

UK probes Apple's App Store for 'stifling competition' and 'hurting consumers'

PTI
PUBLISHED ON MAR 04, 2021 08:57 PM IST
UK's competition watchdog, the Competition and Markets Authority, said Thursday it was looking into “suspected breaches of competition law" by Apple. The App Store, Apple responded, is “a safe and trusted place for customers.”
Close
A branch of State Bank of India (SBI) is seen.(Mint)
A branch of State Bank of India (SBI) is seen.(Mint)

SBI to conduct property e-auction tomorrow: Here’s what you need to know

By hindustantimes.com | Edited by Mallika Soni
UPDATED ON MAR 04, 2021 08:34 PM IST
  • As per SBI’s official website, the properties that are included in the auctions are those of defaulters who failed to pay their dues.
Close
The EPFO has decided it will pay an 8.5% interest on deposits based on the current position of earnings and deposits of the organisation.(File photo)
The EPFO has decided it will pay an 8.5% interest on deposits based on the current position of earnings and deposits of the organisation.(File photo)

EPFO retains 8.5% interest on EPF deposits: Here's how it is calculated

By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON MAR 04, 2021 07:22 PM IST
  • Here’s how you can calculate the EPF interest
Close
Square, Inc. says it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z.(Greg Allen/Invision/AP)
Square, Inc. says it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z.(Greg Allen/Invision/AP)

Square to pay $297 mn for majority stake in Jay-Z's Tidal, appoint him to board

Posted by Kunal Gaurav | Bloomberg
PUBLISHED ON MAR 04, 2021 07:09 PM IST
Jay-Z acquired Tidal for $56 million in 2015 and announced plans to turn it into the first artist-owned streaming service.
Close
FILE PHOTO: A logo of WhatsApp is pictured on a T-shirt worn by a WhatsApp-Reliance Jio representative during a drive by the two companies to educate users, on the outskirts of Kolkata, India, October 9, 2018. Picture taken October 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo(REUTERS)
FILE PHOTO: A logo of WhatsApp is pictured on a T-shirt worn by a WhatsApp-Reliance Jio representative during a drive by the two companies to educate users, on the outskirts of Kolkata, India, October 9, 2018. Picture taken October 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo(REUTERS)

WhatsApp adds voice and video calling feature to desktop version

Posted by Harshit Sabarwal | Reuters
PUBLISHED ON MAR 04, 2021 06:12 PM IST
The move to facilitate calls over large screens would put WhatsApp on par with video-conferencing bigwigs Zoom and Google Meet, but it is not clear if it has ambitions to compete with the two in the enterprise space.
Close
Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.(Reuters file photo)
Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.(Reuters file photo)

OPEC+ debates whether to raise or freeze oil output as price recovers

Reuters, Dubai/moscow
PUBLISHED ON MAR 04, 2021 05:54 PM IST
OPEC+ cut output by a record 9.7 million bpd last year as demand collapsed due to the pandemic.
Close
SHARE
Story Saved
OPEN APP