Exports from SEZs up 38% in May

Exports from SEZs up 38% in May

In spite of India's overall export growth showing a laggard performance, exports from special economic zones (SEZs) have increased by 38% in May, up from just 5% in April.

The exports data released by Export Promotion Council for SEZ and Export Oriented Unit (EPCES) shows merchandise exports from SEZs touched Rs 29,236 crore in May as against Rs 21,220 crore in the same month last year.

The major sectors contributing to the outstanding growth numbers in the month were biotech, chemicals, pharmaceuticals, computer, electronics, non-conventional energy, plastic, rubber, trading and services.

Among the high-growth sectors of SEZs, chemicals and pharmaceuticals exports stood at Rs 16,848 crore in May 2018, an increase of 55% from last year.

Electronics exports from the SEZs surged by 218% to Rs 6 crore and Biotech sector exports rose by 36% to Rs 370 crore between May 2017 and May 2018.

Non-conventional energy also witnessed a record growth of 521%, with exports touching Rs 42 crore in May 2018 against Rs 7 crore worth of exports in May 2017.

Cochin SEZ maintained its stellar growth with exports increasing by a whopping 720% to touch Rs 5,516 crore as against Rs 673 crore in 2017.

Exports from Falta SEZ in West Bengal also grew by a healthy 116% to touch Rs 1,228 crore in May 2018 against exports of Rs 568 crore in May 2017.

Other SEZs to observe a positive year-on-year growth for the period were Indore and Madras Export Processing Zone, with exports increasing by 32% and 29%, respectively.