<h1>India Approves 588 SEZs, Boosting Exports and Jobs with 15.39% Growth in 2011-12; SEZ Act, 2005 Incentives.</h1> The Government of India has formally approved 588 Special Economic Zones (SEZs), with 386 currently notified and 158 operational for exports. Exports from SEZs increased by 15.39% from Rs. 3,15,867.85 crore in 2010-11 to Rs. 3,64,477.73 crore in 2011-12, and further by 64% in the first quarter of 2012-13. SEZs have generated significant employment, with over 9,20,243 jobs, and are required to maintain positive Net Foreign Exchange earnings over five years. The SEZ Act, 2005 provides fiscal incentives, and the scheme aims to boost economic activity, exports, investment, and infrastructure development.