SME Times News Bureau | 18 Feb, 2020
Exports
from the country’s Special Economic Zones have achieved $100 billion dollar mark
in FY 2019-20 amidst volatile global economy.
The $100 billion exports mark was reached on Monday.
Earlier, SEZs had achieved the landmark of $100-billion worth of exports during
the full financial year 2018-19.
"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," the Ministry of Commerce & Industry said in a statement issued
on Tuesday.
According to the statement, there was almost 4 per cent growth in manufacturing
segment.
"This reflects overall expansion and interest in SEZs in the
country," the statement said.
Besides, the number of operational SEZs have grown to 241 as against 235 at the
end of FY 2018-19.
As per the statement, 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."
