News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay  » Business » SEZ exports to touch Rs 2 lakh crore

SEZ exports to touch Rs 2 lakh crore

Source: PTI
April 09, 2010 16:48 IST
Get Rediff News in your Inbox:

Exports from special economic zones (SEZs) are likely to touch Rs 2 lakh crore in 2009-10, a 100 per cent jump from the year-ago period, with Reliance Industries' Jamnagar special economic zone expected to contribute the most to the kitty.

"Exports in general are very 2009-10 they are likely to be Rs 2 lakh crore as against Rs 1 lakh crore last year," Additional Secretary in the Commerce Ministry D K Mittal said.

Exports in the first three quarters of the last fiscal were Rs 1.52 lakh crore, showing a growth of 127 per cent over the corresponding period of 2008-09.

Mittal expects Reliance's Jamnagar refinery to contribute Rs 30,000-40,000 crore (rs 300-400 billion) in the exports.

When asked about the exports prospect in 2010-11, Mittal said: "The current financial year looks extremely positive."

He said exports would become more robust with more and more SEZs becoming operational. The industry is expecting that exports from SEZs would be in the range of Rs 3 lakh crore in 2010-11.

IT, IT hardware, petroleum, engineering, leather and garments are the leading exports from the SEZs. Even the SEZs which were impacted by the global demand slump have started showing positive growth, he said.

In the wake of global economic slowdown, a large number of developers were given more time to execute their projects while some of them surrendered their tax-free enclaves.

By December 2009, 105 SEZs, including 15 multi-product zones were operational. Over 570 developers have been given a formal approval to set up the SEZs.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Moneywiz Live!