Exports from SEZs up 36% in July-Sep quarter

Exports from special economic zones (SEZs) grew by 36 per cent year-on-year to Rs 2.39 lakh crore during the July-September quarter of this fiscal, Export Promotion Council for EOUs and SEZs (EPCES) said today. "In spite of prevailing recession around globe, SEZ sector has shown fabulous growth," it said. It said that the government has granted  586 formal approvals for setting up of SEZs.

"So far 385 SEZs have been notified and 160 SEZs are in operation, out of which 17 are multi product SEZs, remaining are IT/ITeS, engineering, electronic hardware, textiles, biotechnology, gem & jewellery and other sector specific

Special Economic Zones," it said in a statement. Further, it said that as on September, investments worth Rs 2.18 lakh crore have been made in these zones. It asked the government to give some long-term benefits "thereby bringing back this neglected sector, to its established state".

However, these tax-free enclaves have lost sheen after imposition of certain levies and proposal to take away tax incentives. "EPCES hoped that Finance Minister will consider the request of the SEZ Sector for withdrawal of MAT/DDT immediately to garner additional exports, foreign and domestic investments that would result in accelerated employment generation," it said.

The council said that Finance Minister's timely intervention would give great relief to the operational SEZs and would result in brining in the held-up investments and would also help in providing long term stability and continuity to the SEZ Scheme.

The tax incentives were the main attraction for setting up of these export enclaves. Exports from SEZs stood at Rs 3.65 lakh crore in 2011-12.

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