Exports from SEZs grew by 4% to $164 billion, country's total exports declined by more than 3%
Data: According to Commerce Ministry data, SEZs exported $157.24 billion in 2022-23. This figure was $133 billion in 2021-22. According to the ministry, the countries to which the highest exports were made from SEZs include the United Arab Emirates, the US, the UK, Australia and Singapore.
The Special Economic Zones (SEZs) of the nation saw a 4.10 percent annual growth in exports in 2023–2024, reaching $163.69 billion. But over this time, the nation's overall exports fell by more than three percent. Data from the Commerce Ministry shows that in 2022–2023 SEZs exported $157.24 billion. In 2021–2022, this amount was $133 billion. The United Arab Emirates, the US, the UK, Australia, and Singapore are the nations to which SEZ exports have been made in the biggest amounts, according to the ministry. Significant export centers and special Economic Zones accounted for over one-third of the nation's overall exports in the most recent fiscal year.
The highest number of operational special economic zones are in states like Karnataka, Maharashtra, Telangana, Tamil Nadu, Andhra Pradesh, Gujarat, Kerala, and Uttar Pradesh. The units in these zones are currently allowed to sell their products in the DTA (domestic tariff area) on payment of duty on finished goods.
According to the ministry's data, more than Rs 6.92 lakh crore has been invested in special economic zones till December 31, 2023. This has provided employment to a total of 30.70 lakh people.
The government has approved 423 such special economic zones. Of these, 280 have become operational by March 31 this year. As of December 31, 2023, there were 5,711 approved units in SEZs.
