Special Economic Zones (SEZs) continue to take lead in expanding exports for the country. Even in the midst of volatile global economy, SEZs in India have shown resilience and achieved $100-billion of exports in FY2019-20, as of February 17, 2020, said commerce and industry ministry on Tuesday.
SEZs achieved the landmark of $100 billion of exports in 2018-19 in full financial year, the ministry said in a statement.
While the services segment, constituting majorly of IT &ITeS services, was the main driver of export growth at 23.69 percent, manufacturing segment grew at nearly 4 percent. This reflects overall expansion and interest in SEZs in the country, it said.
Number of operational SEZs have grown to 241 this financial year from 235 at the end of FY2018-19.
Sectors that saw healthy growth in this financial year include gems & jewelry (13.3%), trading & logistics (35%), leather & footwear (15%), non-conventional energy (47%), and textiles & garments (17.6%).
Petrochemicals constitute a major segment of SEZ exports, however, growth was muted in this segment; which may be attributed to softening of global crude prices, according to the ministry.
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