Drugs and Pharma sectors lead growth in exports from SEZs
- IBEF
- September 1, 2021
India's exports from special economic zones (SEZs) increased by 41.5% year on year (YoY) to Rs. 2.15 lakh crore (US$ 29.45 billion) in Q1FY22, led by drugs and pharmaceuticals.
Due to Covid interruptions and lockdowns, exports from these zones took a setback in fiscal year 2020-21.
The main cause for the increase in SEZ exports in the April-June quarter was the strong performance of the drugs and pharmaceuticals sectors, which are satisfying the global demand for medicines in the face of the pandemic. However, the engineering products and gems and jewellery sectors have also performed nicely.
Due to Covid-19, SEZ exports declined to Rs. 7.6 lakh crore (US$ 104.11 billion) in FY21 from Rs 7.97 lakh crore (US$ 111.47) in FY20.
267 of the 427 SEZs sanctioned by the government are active as of 30 June 2021.
Additionally, approximately Rs 6.25 lakh crore (US$ 85.61 billion) has been invested in these SEZs, which employ approximately 2.5 million people.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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