SEZ exports up 122 pct to Rs 2.20 lakh cr in 2009-10

NEW DELHI: Exports from SEZs grew by over 122 per cent to Rs 2.20 lakh crore in 2009-10 compared to the previous fiscal, with Reliance Industries' Jamnagar special economic zone contributing the most to the kitty.

Exports from the tax free enclaves in 2008-09 amounted to Rs 99,689 crore.

"Reliance's Jamnagar refinery has contributed the maximum in exports and the government-owned SEZs have also contributed significantly," an official said, adding that exports grew by 122 per cent in 2009-10 over the same period in the previous year.

Exports from Reliance's Jamnagar refinery SEZ are estimated at about Rs 70,000 crore. A company spokesperson declined to comment on the figure.

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

The official said that in the 2010-11 financial year, exports growth is expected to rationalise to about 20 per cent.

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

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