Ministry of Commerce & Industry Says Exports From SEZs Hit $100 Billion Mark
Capital MarketMinistry of Commerce & Industry noted that Special Economic Zones (SEZs) continue to take the lead in expanding the exports for India. Even in the midst of 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. while the services segment, constituting majorly of IT &ITeS services was driver of the export growth at 23.69 %.There was almost 4% growth in manufacturing segment also. This reflects overall expansion and interest in SEZs in the country.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 softening of global crude prices.
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