Exports from SEZ up 12% to Rs 5.24 lakh cr in 2016-17

Posted by Daily Shipping Times on 26-05-2017        Tweet

NEW DELHI: Exports from special economic zones (SEZs) grew by about 12 per cent to Rs 5.24 lakh crore in 2016-17, according to data of the Commerce Ministry.

The shipments from these zones in 2015-16 were aggregated at Rs 4.68 lakh crore. The Country's overall exports recorded a growth of 16.23 per cent in rupee terms. Industry experts stated that taking into account the figures, the Government should take some steps to further boost exports from SEZs.

As per the data, as on March 31, these zones have attracted investments worth Rs 4.23 lakh crore and has generated employment for 17.31 lakh people. Highest number of SEZs are operational in States like Tamil Nadu, Karnataka, Telangana and Maharashtra. Till May 1, the Government has approved as many as 421 zones. Out of this, 218 are operational. With an aim to promote exports from these zones, the Government has decided to treat supplies from domestic market area to special economic zones at par with exports under the Goods and Services Tax (GST) regime.

Export Promotion Council for SEZ and EoUs (EPCES) had said that earlier SEZ developers and units receiving such supplies were required to pay duties first and then seek refund, which is a cumbersome process.