Exports from SEZs grew 21% in December: EPCES
The Dollar Business Bureau
Exports from special economic zones (SEZs) recorded a growth of 21% in the month of December 2017 as compared to the same period a year ago, according to a report by Export Promotion Council for EOUs & SEZs (EPCES).
The SEZ sector registered a 21% growth in exports in the month of December 2017 vis-a-vis the same period in 2016, EPCES said a statement.
“For financial year 2017-18 till December, the sector registered a growth of 15% over the preceding year,” it added.
During the period April-December 2017, the major sectors that has recorded the highest growth in exports include non-conventional energy (82%), trading and services (24%), computer/electronic software (18%), engineering (17%), electronics and hardware (15%), plastics and rubber (14%) and handicrafts (13%).
The major SEZs that witnessed significant growth in exports in the said period were FALTA (127%), Cochin (55%), Vizag (20%), MEPZ (19%) and Kandla (16%), the statement said.
“In terms of merchandise exports, while metals and mineral players contributed significantly to FALTA SEZ’s outward shipments, it has majorly been the gems and jewellery sector that contributed to the export performance of SEZs at Vizag and Cochin,” stated the report.
Further, in software exports, the percentage rise at major SEZs that witnessed significant growth in the nine-month period were FALTA (53%), Vizag (35%), Indore (26%), Cochin (22%) and DC SEEPZ (21%).
During the period under consideration, the key export destinations that witnessed a significant rise in the demand for Indian SEZs/EOUs-made merchandise were Singapore (150%), Belgium (122%), Malaysia (102%), Australia (79%), China (67%), Mozambique (66%), Saudi Arabia (59%), Republic of Korea (45%) and South Africa (36%).
Commenting on the observations of the report, Dr Vinay Sharma, Officiating Chairman, EPCES said, “It is indeed a matter of great delight that despite having faced a challenging business environment, we have ended December 2017 with a 21% year-on-year growth. This speaks a lot about the resilience, commitment and confidence of all the SEZ/EOU players and stakeholders.”
India’s SEZ/EOU sector, employing over 18 lakh people, accounts for 35-40% of country's exports. At present, the sector comprises more than 6,000 operational EOU/SEZ units/SEZ developers spread all across the country.
In the fiscal of 2014-15, the sector’s overall contribution to country’s export basket was $83 billion, of which SEZs alone contributed $73 billion and the rest came from the EOUs.