SEZs exports grew 12%, attracted investments Rs4.23 lakh cr

The Dollar Business Bureau

Data from the Ministry of Commerce website showed that exports from SEZs grew by about 12% to Rs 5.24 lakh crore and attracted investments worth Rs 4.23 lakh crore in 2016-17.

While the country’s overall exports recorded a growth of 16.23% in rupee terms.

States like Tamilnadu, Telangana, Maharashtra and Karnataka have the highest number of SEZs operational in the country. The Government has approved as many as 421 zones till May 1, of these 218 of them are operational. SEZs all over India have generated employment for 17.31 lakh people.

As a special provision to increase exports from SEZs, under GST, the government has decided to treat the supplies reaching the SEZs from the domestic market at par with exports.

The Export Promotion Council for SEZs and Export Oriented Units (EoUs) had complained that SEZ developers and units receiving supplies had to pay their duties and then again seek refund which is time taking and burdensome.