SEZs continue to take lead in expanding exports

It may be mentioned that SEZs achieved this land-mark of the 100-billion-dollar worth of exports in 2018-19 in full financial year.

The Special Economic Zones (SEZs) continue to take the lead in expanding the exports for the country. Even in the midst of a volatile global economy, SEZs in India have shown resilience and have achieved 100-billion-dollar worth of exports in FY 2019-20, as on 17th February 2020. It may be mentioned that SEZs achieved this land-mark of the 100-billion-dollar worth of exports in 2018-19 in full financial year.

It is observed that while the services segment, constituting majorly of IT &ITeS services was the driver of the export growth at 23.69 %. There was almost a 4% growth in the manufacturing segment also. This reflects overall expansion and interest in SEZs in the country.

A 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 this financial year include Gems & Jewelry (13.3%), Trading & Logistics (35%), Leather & Footwear (15%), Non-Conventional Energy (47%), Textiles & Garments (17.6%). Petrochemicals constitute a major segment of SEZ exports, however, growth was muted in this segment; which may be attributed to the softening of global crude prices.

(With Inputs from PIB)