November 16, 2024
Exports from SEZs achieve US$ 100 billion mark; Services sector shows 23.69 per cent growth in Rupee terms
Economy

Exports from SEZs achieve US$ 100 Billion Mark for FY 2019-20

The Special Economic Zones (SEZs) continue to take the lead in expanding the exports for the country. Even in the midst of volatile global economy, SEZs in India have shown resilience and have achieved US$ 100 billion worth of exports in FY 2019-20, as on 17thFebruary 2020.

By Kautilya / February 19, 2020

The Special Economic Zones (SEZs) continue to take the lead in expanding the exports for the country. Even in the midst of volatile global economy, SEZs in India have shown resilience and have achieved US$ 100 billion worth of exports in FY 2019-20, as on 17thFebruary 2020. It may be mentioned that SEZs achieved this landmark of US$ 100 billion worth of exports in 2018-19 in full financial year. A comparison of FY 2019-20 vs. 2018-19 up to February 17th is given below:

Exports in Rs Terms (In Crore)

Export Segment FY 2019-20 (Up to Feb 17) FY 2018-19 (Up to Feb 17) Growth in Export Value (Rs) Growth in Export Value (per cent)
Merchandise 2,97,557 2,86,553 11,004 3.84 per cent
Services 4,04,264 3,26,825 77,439 23.69 per cent
Total 7,01,821 6,13,378 88,443 14.42 per cent

Exports in US$ Terms (In Million)

Export Segment FY 2019-20 (Up to Feb 17) FY 2018-19 (Up to Feb 17) Growth in Export Value (US$) Growth in Export Value (per cent)
Merchandise 42,702 41,471 1,231 2.97 per cent
Services 57,891 47,217 10,674 22.61 per cent
Total 1,00,593 88,688 11,906 13.42 per cent

It is observed that while the services segment, constituting majorly of IT & ITeS services was driver of the 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. Number of operational SEZs have grown to 241 as against 235 at the end of FY 2018-19.

Important sectors that saw healthy growth in this financial year include Gems & Jewelry (13.3 per cent), Trading & Logistics (35 per cent), Leather & Footwear (15 per cent), Non-Conventional Energy (47 per cent), Textiles & 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.

Source:IBEF

Image Courtesy: LiveMint

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