Exports from SEZs grow 35 pc to Rs 3.53 L cr in Apr-Dec 2012

NEW DELHI: Exports from special economic zones increased by over 35 per cent year-on-year to Rs 3.53 lakh crore during April-December 2012, the Export Promotion Council for EOUs and SEZs ( EPCES) said today.

IT, IT-hardware, petroleum, engineering, leather and garments are the leading exports from the SEZs.

Exports from these zones totalled Rs 2.60 lakh crore in the April-December 2011, the council said.

As on December 2012, the 166 operational SEZs have attracted investments worth Rs 2.39 lakh crore and the sector has generated employment to 10.20 lakhs persons, EPCES Chairman P C Nambiar said in a statement.

The government has granted 577 formal approvals for setting up of SEZs, out of which 385 have been notified.

Further he demanded from the government for withdrawal of minimum alternate tax (MAT) or at least to reduce the rate to 7.5 per cent in order to motivate the non-operational SEZs and by bring in the projected investment.

"It was disappointed to note that no such initiative is found in the Budget," he said.

He hoped that the forthcoming Foreign Trade Policy will provide some relief to SEZ community.

Shipments from EOU/SEZ has contributed 34 per cent to the country's total exports in 2010-11 which stood at USD 307 billion.