Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Exports from special economic zones up 4% to $163.69 bn in 2023-24.


Date: 13-06-2024
Subject: Exports from special economic zones up 4% to $163.69 bn in 2023-24
NEW DEHLI: Exports from special economic zones (SEZs) rose by over 4 per cent to $163.69 billion in 2023-24 even though the country's total shipments dipped by more than 3 per cent in the last fiscal. According to the data of the commerce ministry, exports from these zones stood at $157.24 billion in 2022-23 and $133 billion in 2021-22.

SEZs are key export hubs which contributed over one-third of the country's total outbound shipments in the last fiscal.

SEZs are enclosures that are treated as foreign territories for trade and customs duties, with restrictions on duty-free sales outside these zones in the domestic market.

As many as 423 such zones have been approved by the government, out of which 280 are operational as of March 31 this year. As many as 5,711 units are approved in these zones till December 31, 2023.

The data also showed that as on December 31, 2023, over Rs 6.92 lakh crore have been invested in these zones and a total of 30.70 lakh people are employed there.


The major export destinations include the United Arab Emirates, the US, the UK, Australia and Singapore.


To give a push to these zones, the government is considering several measures such as a flexible framework for the sale of products manufactured in SEZs in the domestic market, and streamlining approval processes for units.


In a report, think tank Global Trade Research Initiative (GTRI) suggested the government allow the sale of products manufactured in SEZs in the domestic market on payment of duty foregone on inputs as that would help promote value addition.

At present, units in SEZs are allowed to sell their products in DTA on payment of duties on an output basis (finished goods).

SEZs being set up under the SEZ Act, 2005 and SEZ Rule, 2006 are primarily private investment driven. Post enactment of ..

The maximum number of operational SEZs are in states, including Karnataka, Maharashtra, Telangana, Tamil Nadu, Andhra Pradesh, Gujarat, Kerala and Uttar Pradesh.

The country's merchandise exports dipped by 3.11 per cent to $437 billion in 2023-24. Imports too dipped by over 8 per cent to $677.24 billion.

 Source Name : Economic Times

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 20-06-2024
Notification No. 45/2024 - Customs (N.T.)
Exchange Rate Notification No. 45/2024-Cus (NT) dated 20.06.2024-reg

Date: 14-06-2024
Notification No. 43/2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 06-06-2024
Notification No. 40/2024 - Customs (N.T.)
Exchange Rate Notification No. 40/2024-Cus (NT) dated 06.06.2024-reg

Date: 31-05-2024
Notification No. 38/2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 21-05-2024
Notification No. 37/2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 16-05-2024
Notification No. 36/2024 - Customs (N.T.)
Exchange Rate Notification No. 36/2024-Cus (NT) dated 16.05.2024-reg

Date: 15-05-2024
Notification No. 35/2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 02-05-2024
Notification No. 34/2024 - Customs (N.T.)
Exchange Rate Notification No. 34/2024-Cus (NT) dated 02.05.2024-reg.

Date: 30-04-2024
Notification No. 32/2024-CUSTOMS (N.T.)
Regarding amendment in Notification No. 77/2023 -Cus. (N.T.) dated 20.10.2023 relating to AIRs of Duty Drawback.

Date: 18-04-2024
Notification No. 30/2024 - Customs (N.T.)
Exchange Rate Notification No. 30/2024-Cus (NT) dated 18.04.2024-reg.



Exim Guru Copyright © 1999-2024 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001