Govt. to review special economic zones policy

NEW DELHI, INDIA: Presenting a written reply in the Lok Sabha today, Commerce and Industry Minister, Anand Sharma declared the exports from the Special Economic Zones (SEZs) during the last three years and the current financial year.

In FY 2009-10, value of SEZ exports was Rs. 2,20,711 crore, recording a growth of 121 percent over the previous year.

In FY 2010-11, the value of SEZ exports stood at Rs. 3,15,868 crore (over 43 percent growth over previous year), whereas FY in 2011-2012, the value of SEZ exports were recorded at Rs. 3,64,478 crore (over 15 percent growth over previous year). From April to December, 2012, the value of SEZ exports stands at Rs. 3,53,195 crore.

577 formal approvals for SEZs covering a total area of 67,787 hectares have been granted, as on 20th February, 2013.

According to government release, "In terms of SEZ Act, 2005, a Special Economic Zone (SEZ) may be set up either jointly or severally by the Central Government, State Government or any person for manufacture of goods or rendering services or for both or as a free trade warehousing zone. Such proposals duly recommended by the concerned State Government are considered by the Board of Approval for SEZs."

In order to promote an investor friendly environment and smoother operation of the current SEZ scheme, the government has reviewed the policy and operational framework governed by the Rules of the Special Economic Zone (SEZ) scheme. The government is also consulting various ministries for finalizing the proposal for the SEZ policy.

According to the government release, "Since Special Economic Zones (SEZs) Act and Rules were notified in February, 2006, formal approvals have been granted for setting up of 11 SEZs for Agro and Food Processing, out of which, 9 SEZs have been notified and 3 SEZs have been exporting. The total exports from these SEZs 2012-13(as on 31st December, 2012), have been to the tune of Rs. 695 crore."