Exports from SEZs at Rs. 3.33 lakh crore

Employment generation at 19.96 lakh skills

 

The Special Economic Zones (SEZs) policy was launched in April, 2000.  The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received Presidential assent on the 23rd of June, 2005.  The SEZs Rules, 2006 came into effect on 10th February, 2006.

 

In addition to seven Central Government Special Economic Zones (SEZs) and 11 State/Private Sector SEZs set-up prior to the enactment of the SEZs Act, approvals have been accorded to 420 proposals for setting up of SEZs in the country. Of 355 notified SEZs, 230 SEZs are operational.

 

SEZs being set up under the SEZ Act, 2005 and SEZs Rules, 2006 are primarily private investment driven. No funds are sanctioned by the Central Government for setting up of SEZ. However, fiscal concessions and duty benefits have been allowed to developers and units as per the SEZ Act and Rules there under. As on 30.09.2018, exports from SEZs was Rs. 3,33,661 crore and employment generation was about 19.96 lakh persons and investment of Rs. 4,92,312 crore has been made.

 

The Government had constituted a Group of eminent persons under the Chairmanship of Shri Baba Kalyani, Chairman M/s. Bharat Forge to study the Special Economic Zone (SEZ) Policy of India on 04.06.2018.  One of the terms of the reference for the group was to make the SEZ Policy WTO compatible.

 

The Group has submitted its report to the Government and its recommendations are being examined through Inter-Ministerial consultations.

 

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