The cumulative exports from 230 operational Special Economic Zones (SEZs) is slated to grow beyond a staggering Rs 3 lakh crore mark at the end of this fiscal. The total number of approved SEZ units in the country is over 400, out of which 355 have been notified and 230 are currently operational.
According to a recent commerce and industry ministry submission in the lower house of the parliament, the quantum of exports from the designated SEZ units has been on a consistent rise – going up from Rs 2,14,501 lakh crore in 2015-16 to Rs 2,67,801 crore in 2017-18. In the first half of the current fiscal, the figure stood at Rs 1,60,699 crore which has created the hope that at the end of the current fiscal, the final figure, for the first time, would be in excess of Rs 3,00,000 crore.
To give a boost to the performance of SEZs, the government had earlier constituted a group of eminent persons under the Chairmanship of Baba Kalyani, Chairman, Bharat Forge to study the Special Economic Zone (SEZ) Policy of India on 04.06.2018. One of the terms of the reference for the group was to make the SEZ Policy WTO compatible. The Group has submitted its report to the Government and its recommendations are being examined through Inter-Ministerial consultations.