National Investment and Manufacturing Zone (NIMZ)
Why in news?
Hyderabad Karnataka Chamber of Commerce and Industries (HKCCI), wrote to Chief Minister H.D. Kumaraswamy and Medium and Large Industries Minister K.J. George demanding that they get the final approval for establishing the proposed National Investment and Manufacturing Zone (NIMZ) in Kalaburagi.
- The Union government sanctioned National Investment and Manufacturing Zone (NIMZ) for Kalaburagi in 2014, in pursuance of the National Manufacturing Policy announced in 2011 to boost GDP growth to 25 % and to create 100 million jobs.
- NIMZs have been conceived as large integrated industrial townships with state of-the-art infrastructure; land use on the basis of zoning; clean and energy efficient technology; necessary social infrastructure; skill development facilities, etc., to provide a conducive environment for manufacturing industries.
- To enable the NIMZ to function as a self government and autonomous body, it will be declared by the State Government as a Industrial Township under Article 243 Q (I) (c) of the Constitution.
- These NIMZs would be managed by a Special Purpose Vehicle (SPV) which would ensure master planning of the zone; pre-clearances for setting up the industrial units to be located within the zone and undertake such other functions as specified in the various sections of the policy.
- The NIMZs are perceived to be different from Special Economic zones (SEZ) in terms of size; level of infrastructure planning; governance structure related to regulatory procedures; exit policies; fiscal incentives, etc.
Why in news?
Hindustan Aeronautics Limited (HAL) has become the first public sector enterprise to make a transaction on the “TReDS platform”, which is an online electronic institutional mechanism for facilitating the financing of trade receivables of micro, small and medium enterprises (MSME) through multiple financiers.
- TReDS refers to Trade Receivables Discounting System.
- Micro, Small and Medium Enterprises (MSMEs), despite the important role played by them in the economic fabric of the country, continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds.
- In order to address this pan-India issue through setting up of an institutional mechanism for financing trade receivables,the Reserve Bank of India had published a concept paper on “Micro, Small & Medium Enterprises (MSME) Factoring-Trade Receivables Exchange” in March 2014.
- During October 2017, the central government mandated all major PSUs to join TReDS platform to facilitate payments to MSME vendors.
- RXIL (Receivables Exchange of India) is India’s first TReDS platform operating since January 2017 and is promoted by the National Stock Exchange, Small Industries Development Bank of India, State Bank of India, ICICI Bank and Yes Bank.
Why in news?
India banned petroleum coke import for use as fuel.
About Petroleum coke
- Petroleum coke, abbreviated coke or petcoke, is a final carbon-rich solid material that derives from oil refining, and is one type of the group of fuels referred to as cokes.
- Among polluting fuels, petroleum coke (Petcoke) remains one of the most polluting ones as it emits 11% more greenhouse gas compared to coal.
- India is the world’s biggest consumer of Petcoke.
- Industries use pet coal because it’s much cheaper than coal and is easier to handle as fuel.
- Import of Petcoke is allowed for only cement, lime kiln, calcium carbide and gasification industries, when used as the feedstock or in the manufacturing process on actual user condition.
- This is in an effort to tackle India’s severe air pollution.