Exports from SEZs surge 4% to reach over $163 billion

As the Centre considers several measures to empower special economic zones (SEZs), the exports from these special hubs zoomed up 4 per cent in 2023-24 to reach $163.69 billion.

The exports from SEZs stood at $157.24 billion in 2022-23 and $133 billion in 2021-22, as per the data from the Commerce Ministry.

The government has so far approved 423 such zones, and 280 are operational (as of March 31).At least 5,711 units have been approved in these zones till December 31, 2023.

According to the ministry data, over Rs 6.92 lakh crore have been invested in these zones with 30.70 lakh people being employed (as of December 31, 2023).

States like Karnataka, Maharashtra, Telangana, Tamil Nadu, Andhra Pradesh, Gujarat, Kerala and Uttar Pradesh have the maximum number of SEZs.

SEZs have emerged as an important contributor to India's exports.

The proposed amendments in the SEZ laws are likely to come up in the 100-day agenda of the commerce ministry.

The Centre is mulling measures such as a flexible framework for the sale of products manufactured in SEZs in the domestic market, and streamlining approval processes for units.