NEW DELHI: Despite initial reservations of the finance ministry, they are proving to be key engines of export growth. The government expects exports from special economic zones (SEZs) to touch Rs 1,25,000 crore during 2008-09, an increase of more than 86% over the last fiscal.
“The government sees SEZs as vehicles of industrialisation and employment generation,” commerce minister Kamal Nath said while announcing the Foreign Trade Policy for 2008-09 here on Friday. In the last three years, the exports from SEZs have shown an increase of over 150%. It is projected that the exports from SEZs would reach Rs 1,25,000 crore by the end of 2008-09.
According to government estimates, export gains from SEZs in 2007-08 would total to about Rs 67,088 crore, a growth of 200% over two years. Exports from SEZs in 2003-04 was just Rs 13,854 crore. SEZs currently provide employment to more than 2.8 lakh people. According to government data, till December 2007, newly-notified SEZs provided employment to about 61,000 people. Meanwhile, private sector provided employment to about 36,463 people as per the data available till December 2007. Companies operating in these zones include Nokia, Mahindra and Mahindra and Wipro.
The incremental employment generated by these SEZs since February 2006 is 1.5 lakh. Of this, about 61,000 have found employment in the newly notified SEZs, private SEZs and government owned SEZs have given employment to to around 85,000.
Pointing out the massive increase in exports and employment, the minister said: “Development of this nature reassures us of the validity of the basic policy relating to SEZs, notwithstanding the scepticism expressed by a few persons.”
According to the pre-budget Survey, exports from the tax-free zones increased to Rs 34,615 crore in 2006-07 from Rs 22,840 crore, regisetering a growth of 52%.
Till now the government has granted 453 formal approvals for setting up of SEZs, of which 207 have been notified, while others are at various stages of implementation and operation. The minister also said that approvals are not restricted to a few states but spread over 19 states and 3 union territories.
The new SEZs have come up in all the sectors like engineering, textiles, IT, telecommunication, multi-products, shoes, gems & jewellery, non conventional energy, bio technology and pharmaceuticals. The news SEZs have come in states like Tamilnadu, Rajasthan, Gujarat, Andhra Pradesh, Punjab, Uttar Pradesh, Maharashtra and Karnataka.
“The government sees SEZs as vehicles of industrialisation and employment generation,” commerce minister Kamal Nath said while announcing the Foreign Trade Policy for 2008-09 here on Friday. In the last three years, the exports from SEZs have shown an increase of over 150%. It is projected that the exports from SEZs would reach Rs 1,25,000 crore by the end of 2008-09.
According to government estimates, export gains from SEZs in 2007-08 would total to about Rs 67,088 crore, a growth of 200% over two years. Exports from SEZs in 2003-04 was just Rs 13,854 crore. SEZs currently provide employment to more than 2.8 lakh people. According to government data, till December 2007, newly-notified SEZs provided employment to about 61,000 people. Meanwhile, private sector provided employment to about 36,463 people as per the data available till December 2007. Companies operating in these zones include Nokia, Mahindra and Mahindra and Wipro.
The incremental employment generated by these SEZs since February 2006 is 1.5 lakh. Of this, about 61,000 have found employment in the newly notified SEZs, private SEZs and government owned SEZs have given employment to to around 85,000.
Pointing out the massive increase in exports and employment, the minister said: “Development of this nature reassures us of the validity of the basic policy relating to SEZs, notwithstanding the scepticism expressed by a few persons.”
According to the pre-budget Survey, exports from the tax-free zones increased to Rs 34,615 crore in 2006-07 from Rs 22,840 crore, regisetering a growth of 52%.
Till now the government has granted 453 formal approvals for setting up of SEZs, of which 207 have been notified, while others are at various stages of implementation and operation. The minister also said that approvals are not restricted to a few states but spread over 19 states and 3 union territories.
The new SEZs have come up in all the sectors like engineering, textiles, IT, telecommunication, multi-products, shoes, gems & jewellery, non conventional energy, bio technology and pharmaceuticals. The news SEZs have come in states like Tamilnadu, Rajasthan, Gujarat, Andhra Pradesh, Punjab, Uttar Pradesh, Maharashtra and Karnataka.
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