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        Customs, DGFT & SEZ

        Special Economic Zones touch new heights in terms of performance in Exports, Investment and Employment

        July 23, 2021

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        In various Special Economic Zones (SEZs) across the country, 1096 Nos. of units has been registered during the last three years. The exports by these units during the last three years Zonal SEZ- wise and year-wise are as under:-

        Sl. No.

        Name of the Zone

        Exports (in Rs. Crores)

        2018-19

        2019-20

        2020-21

        1

        MEPZ SEZ

        186.6

        1618.86

        4396.43

        2

        Cochin SEZ

        1249.24

        7420.64

        19431.83

        3

        Noida SEZ

        1358.79

        3763.67

        6550.52

        4

        Kandla SEZ

        51.4

        4882.15

        13435.92

        5

        Vishakhapatnam SEZ

        272.82

        3438.85

        9992.88

        6

        SEEPZ SEZ

        256.5

        4914.23

        14966.49

        7

        Falta SEZ

        20.72

        217.96

        640.68

        Total

        3396

        26256

        69415

        Total 336 numbers of units exited during the last three years. The reason of such winding of operations includes variations in International market conditions, Slowdown of orders, merger of units and COVID-19 pandemic etc.

        SEZs set up under SEZ law have largely or generally met their objectives. SEZs have touched new heights in terms of performance in Exports, Investment and Employment viz. Exports of ₹ 22,840 Crore in 2005-06 has increased to ₹ 7,59,524 Crore in 2020-21; Investment of ₹ 4,035.51 Crore in 2005-06 has increased to ₹ 6,17,499 Crore (cumulative basis) by 2020-21 andEmployment provided to 1,34,704 persons in 2005-06 has increased to 23,58,136 persons (cumulative basis) in 2020-21. The fiscal concessions and duty benefits allowed to SEZs are inbuilt into the SEZ Act, 2005 and are consistent with the guidelines for setting up SEZs as the larger economic initiatives of the Government in general. However, there is no  provision to grant additional fiscal incentives at present.

        This information was given by the Union Minister of Commerce and Industry, Shri Piyush Goyal, in a written reply in the Rajya Sabha today.

        Special Economic Zone fiscal concessions remain inbuilt under SEZ Act, limiting additional fiscal incentives in policy. Special Economic Zones reported registration of 1,096 units over the last three years and significant year-on-year zonal export increases, with 336 unit exits attributed to international market changes, order slowdowns, mergers and the COVID-19 pandemic. Aggregate exports, investment and employment have risen markedly since 2005-06 to 2020-21. Fiscal concessions and duty benefits are embedded in the SEZ Act, 2005 and consistent with broader government initiatives; there is currently no provision to grant additional fiscal incentives beyond the Act.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Special Economic Zone fiscal concessions remain inbuilt under SEZ Act, limiting additional fiscal incentives in policy.

                                Special Economic Zones reported registration of 1,096 units over the last three years and significant year-on-year zonal export increases, with 336 unit exits attributed to international market changes, order slowdowns, mergers and the COVID-19 pandemic. Aggregate exports, investment and employment have risen markedly since 2005-06 to 2020-21. Fiscal concessions and duty benefits are embedded in the SEZ Act, 2005 and consistent with broader government initiatives; there is currently no provision to grant additional fiscal incentives beyond the Act.





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                                ActsIncome Tax
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