The Special Economic Zones Act which was passed by
the Government of India in May 2005 enabled India's exports to reach new
heights as a result of which India is now enjoying increased share in
International trade (accounting for about 2.4% of global trade). The 192
operational SEZs have cumulatively exported goods & services worth INR 4.94
trillion in the 2013-14 fiscal. It is to be noted that the Indian government
has approved as many as 564 new SEZs of which 388 have been officially
notified. Cumulative investments in these zones stands at a hefty INR 3,01,655
crores employing around 12.77 lakh persons. What is worrying is the dwindling
rate of growth of exports from these zones. This growth rate has declined
sharply to a meager 3.8% in 2013-14 fiscal. Compare this with the
previous year figure of 31%. SEZs account for more than one-fourth of India's
overall merchandise exports. This means that there is a urgent need for the
Modi government to take corrective measures to arrest this decline.
Year-wise performance of Indian SEZs
Years
|
Exports
|
Growth over
previous year
|
|
Value in Rs. Crores
|
Billion USD
|
||
2005-2006
|
22,840
|
5.08
|
-
|
2006-2007
|
34,615
|
7.69
|
52%
|
2007-2008
|
66,638
|
14.81
|
93%
|
2008-2009
|
99,689
|
22.15
|
50%
|
2009-2010
|
2,20,711
|
49.05
|
121%
|
2010-2011
|
3,15,868
|
70.19
|
43.11%
|
2011-2012
|
3,64,478
|
81.00
|
15.39%
|
2012-2013
|
4,76,159
|
88.18
|
31%
|
2013-2014
|
4,94,077
|
82.35
|
4%
|
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