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EXPORTS IN SEZs GROWN BY 92%

EXPORTS IN SEZs GROWN BY 92%

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Published by Mark Fidelman
Exports from Special Economic Zones had registered an extraordinary growth rate of 92% in 2007-08 while it was 52% in the previous year of 2006-07. The major share of SEZs exports are Gems & Jewellery, Trade and Service, Computer/Electronic Software and Hardware sectors. The exports has grown from Rs. 34,615 Crores (2006-07) to Rs.66,638 Crores in 2007-08.
Exports from Special Economic Zones had registered an extraordinary growth rate of 92% in 2007-08 while it was 52% in the previous year of 2006-07. The major share of SEZs exports are Gems & Jewellery, Trade and Service, Computer/Electronic Software and Hardware sectors. The exports has grown from Rs. 34,615 Crores (2006-07) to Rs.66,638 Crores in 2007-08.

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Published by: Mark Fidelman on Jun 03, 2008
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05/09/2014

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EXPORTS IN SEZs GROWN BY 92%By: BHARAT RATNA
Exports from Special Economic Zones had registered anextraordinary growth rate of 92% in 2007-08 while it was 52% in the previousyear of 2006-07. The major share of SEZs exports are Gems & Jewellery, Trade and Service, Computer/Electronic Software and Hardware sectors. Theexports has grown from Rs. 34,615 Crores (2006-07) to Rs.66,638 Crores in2007-08.India was one of the first in Asia to recognize the effectiveness of the ExportProcessing Zone (EPZ) model in promoting exports, with Asia’s first EPZ setup in Kandla in 1965. With a view to overcome the shortcomingsexperienced on account of the multiplicity of controls and clearances;absence of world-class infrastructure, and an unstable fiscal regime and witha view to attract larger foreign investments in India, the Special EconomicZones (SEZs) Policy was announced in April 2000. This policy intended to make SEZs an engine for economic growth supportedby quality infrastructure complemented by an attractive fiscal package, bothat the Centre and the State level, with the minimum possible regulations.SEZs in India functioned from 1.11.2000 to 09.02.2006 under the provisionsof the Foreign Trade Policy and fiscal incentives were made effective throughthe provisions of relevant statutes
Exports from the functioning SEZs during the previous years are asunder: YearValue (Rs.Crore)Growth Rate( overpreviousyear )2003-200413,85439%2004-200518,314 32%2005-200622 840 25%2006-0734,61552%2007-0866,63892%
SECTORWISE GROWTH
 
Gem and Jewellery, Trade and Service, Computer/Electronic Software andHardware are the major share of exports in SEZs. Its share was 82.5% out of its total exports. The others are textiles. Chemicals, engineering, etc. andthese sectors share was 17.5%. Some of the sectors like ceramics, tobaccohad minimal share in the total exports. 
Sectorwise breakup of Physical Exports (2007-08)from Special Economic Zones in indiaGovt.SEZsStateGovt/PvtSEZsprior toSEZ Act,2005SEZsnotifiedunderSEZ Act.Total
Biotech159.45159.45Computer/Elecronic software2663.381046.24275.643985.26Electronicshardware1408.536313.343399.4511121.32Electronics 518.71518.71Engineering 886.81421.873431651.68Gems and Jewellery15979.987025.930.1523006.06Chemicals &Pharmaceuticals1069.4920.33333.231423.05Handicrafts30.3330.33Plastic and rubber354.97302.69657.66Leather, footwearand sports goods190.7946.23237.02Ceramics2424Food and AgroIndustry645.58645.58Non-conventionalEnergy126.01126.01 Trading andservice14073.226793.7520866.97 Textiles andgarmerns1135.69101.1679.761316.61 Tobacco relatedproducts9.58.9818.48
 
Misc314.66103.23431.59849.48
Total39275.3122167.855194.5166637.68Total employment in SEZs:3,36,235 Lakh personsTotal incremental employment generated in SEZs since Feb., 2006:2,01,531 personsTotal investment in Special Economic Zones as of 31.3. 2008:Rs.77210 croreIncentives and facilities offered to the SEZs
 The incentives and facilities offered to
the units
in SEZs for attractinginvestments into the SEZs, including foreign investment include:-
Duty free import/domestic procurement of goods for development,operation and maintenance of SEZ units
100% Income Tax exemption on export income for SEZ units underSection 10AA of the Income Tax Act for first 5 years, 50% for next 5years thereafter and 50% of the ploughed back export profit for next 5years.
Exemption from minimum alternate tax under section 115JB of theIncome Tax Act.
External commercial borrowing by SEZ units upto US $ 500 million in ayear without any maturity restriction through recognized bankingchannels.
Exemption from Central Sales Tax.
Exemption from Service Tax.
Single window clearance for Central and State level approvals.
Exemption from State sales tax and other levies as extended by therespective State Governments. The major incentives and facilities available to
SEZ developers
include:-
Exemption from customs/excise duties for development of SEZs forauthorized operations approved by the BOA.
Income Tax exemption on income derived from the business of development of the SEZ in a block of 10 years in 15 years underSection 80-IAB of the Income Tax Act.
Exemption from minimum alternate tax under Section 115 JB of theIncome Tax Act.

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