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New Delhi : 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 100-billion-dollar worth of exports in FY 2019-20,as on February 17, 2020.
It may be mentioned here that SEZs achieved this land-mark of 100-billion-dollar worth of exports in 2018-19 in full financial year.
It is observed that while the services segment, constituting majorly of IT & ITeS services, was driver of the export growth at 23.69 %. There was almost 4% growth in manufacturing segment also. This reflects overall expansion and interest in SEZs in the country. The number of operational SEZs have grown to 241 as against 235 at the end of FY 2018-19, according to a PIB release.
Important sectors that saw healthy growth in this financial year include Gems & Jewelry (13.3%), Trading & Logistics (35%), Leather & Footwear (15%), Non-Conventional Energy (47%), Textiles & Garments (17.6%). Petrochemicals constitute a major segment of SEZ exports though growth was muted in this segment; which may be attributed to softening of global crude prices.
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