New Delhi, Feb.8 Despite the global financial crisis, exports from Special Economic Zones (SEZ) during April-December 2009 were Rs 1,51,785.49 crore, a 127 per cent growth from the same period last year. SEZ exports during April-December 2008 were Rs 66,638 crore.
Interestingly, SEZ exports during April-December 2009 were more than the Rs 99,600-crore worth exports from these tax-free enclaves in the whole of 2008-09.
However, due to the global economic downturn, the cumulative value of India's entire exports for April-December 2009 was Rs 5,63,304 crore, registering a negative growth of 13.7 per cent in rupee terms over Rs 6,52,919 crore in the same period last year.
This means, SEZ exports accounted for 27 per cent of the country's total exports in April-December 2009, as against just 10.2 per cent during the same period in the previous year.
“This is the first time SEZ exports have crossed Rs 1,50,000 crore in a fiscal. This was achieved in the first nine months of this financial year itself,” Dr L.B. Singhal, Director-General, Export Promotion Council for Export-Oriented Units and SEZs, said in a statement here.
Employment for more
SEZs have given direct employment to 4,90,358 people as on December 31, 2009, while the total employment as on December 31, 2008, was 3,36,333 people. Hence, SEZs have created direct additional employment of 1,54,025 people in this financial year.
Total investment in the SEZs as on December 31, 2009 is Rs 1,28,385 crore, up Rs 26,479 crore from the previous year's Rs 1,01,906 crore.
“SEZs are moving in the right direction in achieving their stated objective of increasing exports, creating employment and attracting investment. However, we have to go a long way. Indian SEZs have attracted the attention of investors from all over the world as was evident during the World Free Zone Convention held recently in Hyderabad which was attended by participants from more than 26 countries,” Dr Singhal said.
He said all uncertainties on SEZs, especially those created by the draft Direct Tax Code, need to be removed. “There is a need to clarify clearly that the benefits provided for SEZ units and developers in the SEZ Act shall be continued in the manner provided for in the SEZ Act,” Dr Singhal said.
Source : Business Line