SEZ exports up 56% in Apr-Sep

Exports from special economic zones grew by 56 per cent to Rs 1,39,841 crore (Rs 1398.41 billion) during April-September 2010-11 over the year-ago period.

In the first half of 2009-10, the exports from the tax- free enclaves were Rs 89,750 crore (Rs 897.5 billion).

Exports from the zones during 2009-10 were Rs 2.2 lakh crore (Rs 2.2 trillion) against Rs 99,000 crore (Rs 990 billion) in the previous fiscal.

The 122 operational SEZs have provided employment to 6,20,824 people, according to the data by Export Promotion Council for EOUs &SEZ (EPCES) released on Monday.

It said that additional employment of over 117,000 was created in the zones during April-September 2010-11.

As on September 30, total investment in SEZs was estimated at Rs 1,76,148 crore (Rs 1,761.48 billion), including Rs 1,61,743 crore (Rs 1,617.43 billion) in the newly notified zones.

EPCES further said that additional investment of Rs 27,660 crore (Rs 276.6 billion) has been made in the first two quarters of the current financial year.

The industry is expecting that exports from SEZs would be in the range of Rs 3 lakh crore (Rs 3 trillion) in 2010-11.

IT, IT-hardware, petroleum, engineering, leather and garments are the leading exports from the SEZs.

In the wake of global economic slowdown, a large number of developers were given more time to execute their projects while some of them surrendered their tax-free enclaves.

Meanwhile, the next meeting of the board of approval, an inter-ministerial body that deals with SEZs and related issues is scheduled for November 19.