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21 June 2018
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SEZ(The
Total Investment & Insurance Solutions)
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Exports from special economic zones (SEZs)
grew by 38 per cent in May to Rs 29,236 crores, according to data by EPCES.
Export Promotion Council for EoUs and SEZs (EPCES) said the major sectors
contributing to the growth include biotech, chemicals, pharmaceuticals,
computers, electronics, non-conventional energy, plastic, rubber, trading and
services.
Further, during April-May this fiscal, exports from these zones rose by
11 per cent to Rs 1.01 lakh crore. Vinay Sharma, officiating chairman of EPCES,
said: “The healthy pace of growth in exports from SEZs once again reflects the
increasing economical impact of these zones and its contribution to the
country’s export earnings.” The major export destinations are the UAE, US and
Saudi Arabia.
However, regions like Hong Kong, Africa, Kenya and Oman have seen
negative trends, it added. These zones enjoy certain fiscal and non-fiscal
incentives such as no license requirement for import; full freedom for
subcontracting; and no routine examination by customs authorities of
export/import cargo. They also enjoy direct and indirect tax benefits. Exports
from special economic zones grew by about 15 per cent to Rs 5.52 lakh crore in
2017-18.The Total Investment &
Insurance Solutions
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