Exports from SEZs up 127% in Apr-Dec 2009-10

NEW DELHI: Exports from SEZs, or tax free enclaves, during April-December this fiscal grew by a robust 127 per cent to over Rs 1,50,000 crore year-on-year despite slump in global demand.

Exports from the Special Economic Zones (SEZs) in the first nine months of 2009-10 was at Rs 1,51,785.49 crore compared to Rs 66,638 crore in the same period last year, Export Promotion Council for EOUs & SEZs Director General L B Singhal said.

The tax free enclaves have created additional employment to 1,54,025 people during the period.

As on December 2009, total investments in the zones was at Rs 1,28,385 crore.

Under the SEZ Act, units in these zones are given 100 per cent tax exemption on their income for the first five years and 50 per cent in the next five years.

A total of 579 SEZs have been approved in the country and 335 of them have been notified. Of them, 101 are currently operational.

Meanwhile, the government will consider eight fresh applications for SEZs on February 11.

The Board of Approval headed by Commerce Secretary Rahul Khullar would also decide on the applications of different developers, including Mahindra Satyam, Wockhardt Infrastructure Development and the Kandla Port, who are seeking more time to execute their projects.