Exports from SEZs cross USD 100 bn mark by mid-Feb 2020

New Delhi: Exports from SEZs have crossed USD 100 billion mark by mid-February in the current financial year, surpassing the 2018-19 level, an official release said on Tuesday.

The special economic zones (SEZ) continue to take lead in expanding the exports for the country, the commerce ministry said in a statement.

“Even in the midst of volatile global economy, SEZs in India have shown resilience and have achieved USD 100 billion worth of exports in FY 2019-20, as on February 17, 2020,” it said.

SEZs had achieved the land-mark of 100-billion-dollar worth of exports in 2018-19 in full financial year.

The ministry further said the services segment, constituting majorly of IT and ITeS services, was the main driver of export growth at 23.69 per cent.

“There was almost 4 per cent growth in manufacturing segment also. This reflects overall expansion and interest in SEZs in the country,” it said.

The number of operational SEZs has grown to 241 as against 235 at the end of 2018-19.

Sectors that saw healthy growth include gems and jewellery (13.3 per cent), trading and logistics (35 per cent), leather and footwear (15 per cent), non-conventional energy (47 per cent), textiles and garments (17.6 per cent).

Petrochemicals constitute a major segment of SEZ exports, however, growth was muted in this segment which may be attributed to softening of global crude prices, the release added.