NEW DELHI || The Special Economic Zones (SEZs) continue to take the lead in expanding the exports for the country. Even in the midst of volatile global economy, SEZs in India have shown resilience and have achieved 100-billion-dollar worth of exports in FY 2019-20, as on February 17, 2020, an official said on Wednesday.
It may be mentioned that SEZs achieved this land-mark of the 100-billion-dollar worth of exports in 2018-19 in full financial year.
It was also informed that while the services segment, constituting majorly of IT &ITeS services was the driver of the export growth at 23.69 %. There was almost 4% growth in manufacturing segment also.
This reflects overall expansion and interest in SEZs in the country. The number of operational SEZs have grown to 241 as against 235 at the end of FY 2018-19.
Important sectors that saw healthy growth in this financial year include Gems & Jewellery (13.3%), Trading & Logistics (35%), Leather & Footwear (15%), Non-Conventional Energy (47%), 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.