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Exports from SEZs register 36% growth in July-Sep quarter

06 Nov 2012 Evaluate

In spite of prevailing recession around globe, exports from the Special Economic Zone (SEZ) grew by a remarkable 36 percent at Rs 2.39 lakh crore during the second quarter of this financial year as compared to the corresponding period last fiscal. The government, in total, has granted 586 formal approvals for setting up of SEZs. Out of which so far, 385 SEZs have been notified and 160 SEZs are in operation, out of which 17 are multi product SEZs, remaining are IT/ITeS, engineering, electronic hardware, textiles, biotechnology, gem & jewellery and other sector specific.

Meanwhile, as on September 30, 2012 investments aggregating to the worth Rs 218,795.41 crore were made in SEZs which led to the sector generating employment of upto  9,45,990 persons.

However, these tax-free enclaves have lost luster after imposition of certain levies and proposal to take away tax incentives. Export Promotion Council for EOUs and SEZs still hopes that Finance Minister will consider the request of the SEZ Sector for withdrawal of MAT/DDT immediately to lure additional exports, foreign and domestic investments that would also result in accelerated employment generation. The council has further added that Finance Minister's timely intervention would give great relief to the operational SEZ’s , besides bringing in the held-up investments and also in providing long term stability, continuity to the SEZ Scheme.

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