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Exports from special economic zones (SEZs) grew by about 15 percent to Rs 5.52 lakh crore in 2017-18, EPCES today said.
Export Promotion Council for EoUs and SEZs (EPCES) said that while the goods export from these zones stood at Rs 2.74 lakh crore in 2017-18, shipments of services aggregated to Rs 2.78 lakh crore in the last fiscal.
“The combined export from SEZs in India of merchandise and software has been to the tune of Rs 5,51,344 crore as against Rs 4,68,567 crore in the last year,” the council said in a statement.
The sector has recorded healthy growth in spite of the challenges such as minimum alternate tax, dividend distribution tax, it added. The major export destinations include the United Arab Emirates, the US, the UK, Australia and Singapore.
Vinay Sharma, officiating chairman of EPCES, said SEZs for any foreign investor looking for 500 acres or even more land to set up plant, only an SEZ can allot the land quickly without any encumbrances, litigations, or disruptions.