SEZ Export Cross $80bn per Year
As
per Section 18 of the Special Economic Zones (SEZs) Act, 2005 the Government
may approve the setting up of an International Financial Services Centre (IFSC)
in a SEZ. The Central Government may prescribe the requirements for setting up
and the terms and conditions of the operation of Units in an IFSC, subject to
such guidelines as may be framed by the Reserve Bank, the Securities and
Exchange Board of India, the Insurance Regulatory and Development Authority and
such other concerned authorities, as it deems fit.
All SEZs, including SEZs providing financial services,
established under the provisions of the SEZ Act, 2005 and Rules framed
thereunder and amendments notified thereon from time to time are eligible for
the fiscal concessions and duty benefits as provided under the SEZ Act and
Rules.
As per Rule 53 of SEZ Rules, 2006, a SEZ unit is under an
obligation to achieve positive Net Foreign Exchange (NFE) earnings to be
calculated cumulatively for a period of 5 years from the commencement of
production, failing which the units shall be liable for penal action under the
provisions of the Foreign Trade (Development and Regulation) Act, 1992. The
total exports from the SEZs during the last seven years and the current
financial year are as under:
|
Financial Year |
Exports from SEZs |
|
2006-2007 |
34,615 |
|
2007-2008 |
66,638 |
|
2008-2009 |
99,689 |
|
2009-2010 |
2,20,711 |
|
2010-2011 |
3,15,868 |
|
2011-2012 |
3,64,478 |
|
2012-2013 |
4,76,159 |
|
2013-2014* |
1,13,299 |
*for
the period April-June, 2013
The information was given by the Minister of State in the
Ministry of Commerce and Industry Dr. D. Purandeswari, in a written reply in Lok
Sabha 26 August 2013.