Press Information Bureau
Government of India
Ministry of Commerce & Industry

08-August-2012 16:52 IST

Performance of SEZs in Rajasthan

 

Out of 12 (Twelve) notified Special Economic Zones (SEZs), 05 (Five) SEZs are already exporting in the State of Rajasthan.  As on 30^th June, 2012, investments of Rs.970.16 crore have been made in these SEZs and direct employment for 12,530 persons has been generated.  Exports from the SEZs located in the State of Rajasthan during the last five years and in the first quarter of the current financial year i.e. 2012-13 are as under:-

            (Rupees in Crores)

 

No export targets are set for Special Economic Zones (SEZs).  However, the SEZs are under obligation to achieve positive Net Foreign Exchange (NFE) earnings to be calculated cumulatively for a period of 5 years from the commencement of production, failing which, the Units shall be liable for penal action under the provisions of the Foreign Trade (Development and Regulation) Act, 1992.  Development Commissioner conducts annual monitoring of all SEZ Units and Developer in terms of SEZ Act, 2005 and Rules framed thereunder. 

This information was given by the Minister of State of Commerce and Industry, Shri Jyotiraditya M. Scindia in a written reply in the Rajya Sabha today.

DS/GK

 

Net foreign exchange requirement enforces positive cumulative foreign exchange earnings, non-compliance triggers statutory penal action. SEZs in Rajasthan are subject to a mandatory Net Foreign Exchange obligation requiring positive cumulative foreign exchange earnings over five years from commencement of production, with failure attracting penal action under the Foreign Trade (Development and Regulation) Act, 1992; annual monitoring by the Development Commissioner under the SEZ Act, 2005 and rules ensures compliance.