Exports from SEZs grew 18% in February 2018
The Dollar Business Bureau
India’s exports from the Special Economic Zones (SEZs) has witnessed an increase of 18% in the month of February this year as compared to the same month last year, on the back of a good growth in the shipments of electronics, non-conventional energy products and tobacco related products.
“The SEZ sector in the country has registered 18% growth in exports in February 2018 vis-a-vis the same period in 2017,” according to the latest Exports Performance Report released by the Export Promotion Council for EOUs & SEZs (EPCES).
“In February, the total exports from all the SEZs amounted to Rs.22364 crore as against Rs.18990 crore in the same month last year,” the report said.
The major sectors that witnessed a significant growth in outward shipments were non-conventional energy (539%), electronics (362%), tobbaco related items (173%), trading and services (60%), plastics and rubber (25%), engineering (22%), chemicals & pharmaceuticals (21%), computer/electronic software (7%) and gems and jewellery (7%).
For the entire fiscal 2017-18 till February, SEZs recorded a growth of 15% over the previous year.
During the April-February 2017-18, the major SEZ zones that witnessed a significant growth in merchandise exports were FALTA (61%), Cochin (33%), Vizag (19%), Kandla (13%), DC SEEPZ (12%) and MEPZ & Noida (8%).
The major export destinations that recorded a significant increase in demand for Indian manufactured goods were United Kingdom (92.12%), Belgium (91.51%), Singapore (80.29%), China (75.62%%), Malaysia (69.09%), Australia (65.53%), Saudi Arabia (57.05%) and the UAE (29.82%).
Commenting on the report, Dr Vinay Sharma, Officiating Chairman of EPCES, said, “It’s indeed a matter of great satisfaction that despite a challenging business environment, the SEZ fraternity has managed to register a healthy year-on-year growth of 18% in February 2018.”
“This demonstrates the high level of perseverance and confidence of all the SEZ players and stakeholders. Going forward, I am confident the sector would continue to act as a vital contributor to the country's growth story,” he added.
Sharma further said that SEZs which could play a crucial role in fulfilling the various economic and social development goals of various state governments.
“SEZs can play a key role in taking forward the Government’s flagship campaigns such as Make in India, Skill India, Exports from India and Rural Employment,” he said.
“Hence, if the government, on its part, accelerates its role as an enabler to the causes of SEZs and resolves the roadblocks related to MAT, DDT and the Sunset Clause, then it will greatly improve the investment friendly image of SEZs that have been have dented in the recent times,” he added.
Indian SEZ sector contributes over $87 billion in India’s export basket and provide employment to more than 18 lakh persons. Currently, there are over 6,000 operational SEZ units/SEZ developers spread across the country.