IBEF: September 05, 2008
New Delhi: An assessment by Associated Chambers of Commerce and Industry of India (Assocham) suggests that exports from special economic zones (SEZs) have registered a growth of 192 per cent between 2005-06 and 2007-08. The industry lobby has further projected a phenomenal growth of 451 per cent by 2008-09.
The study revealed that after the enforcement of the SEZ Act in 2005-06, SEZ exports surged to US$ 14.98 billion in 2007-08 from US$ 5.13 billion, clocking an impressive 192 per cent growth.
By 2011-12, SEZ exports is expected to surge past US$ 116.14 billion, according to Assocham president Sajjan Jindal who released the chamber assessment.
In 2007-08, official figures for total exports of India between April-December was estimated at US$ 107.64 billion. The report said that "their contributions to the total domestic exports have gone up from 5.004 per cent in 2005-06 to 13.93 per cent in first nine months of 2007-08."
The chamber said that by end of the 11th Five-Year-Plan period, the SEZs would attract investments of about US$ 225 billion. As per official estimates, SEZs would receive investments to the tune of US$ 67.54 billion by December 2009.
Currently, 90 SEZs are operational and 353 units have come up in those. Also, 253 SEZs have been notified after the SEZ Act was passed.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.