Exports from SEZs hit $100 billion mark
19 February 2020
Special Economic Zones (SEZs) are helping the country to push exports by achieving 100-billion-dollar worth of exports in FY 2019-20 (as of 17 February 202) despite the volatility of the global economy.
SEZs in India have shown resilience and have achieved this land-mark 100-billion-dollar worth of exports in the first 10-1/2 months of the fiscal, which is equivalent to the exports from SEZs for the full 2018-19 financial year.
It is observed that while the services segment, constituting majorly of IT and ITeS services was driver of SEZ exports with a growth of 23.69 per cent. Exports from the manufacturing SEZ Units grew nearly 4 per cent, which reflect overall expansion and interest in SEZs in the country.
The number of operational SEZs have grown to 241 as against 235 at the end of FY 2018-19.
Important sectors that saw healthy growth in the currents financial year include gems and Jewellery (13.3 per cent), trading and logistics (35 per cent), leather and footwear (15 per cent), non-conventional energy (47 per cent), textiles and garments (17.6 per cent). While petrochemicals constitute a major segment of SEZ exports, growth, however, was muted in this segment; which may be attributed to softening of global crude prices.