Exports from Cochin has Recorded Highest Growth with over 705%

KOCHI:
Exports from special economic zones (SEZs) grew 5 percent in April to Rs 20, 548 crores as compared to the year-ago month, EPCES today said.
EPCES said the major sectors recording healthy growth include biotech, chemicals, pharmaceuticals, computer,
electronics, non-conventional energy, plastic, rubber, trading and services. The highest growth has been from Cochin SEZ with 705% increase of Rs 3708 crores from last year of Rs 461 crores. Falta has observed Rs.905 crores of a surge in the export value of 80% than Rs.452 crores of last year export value. Other SEZs observed positive growth are Indore, MEPZ with 14 % and Noida with 9%.
“Total exports in April this year from SEZs amounted to Rs 20,548 crore as against Rs 19,488 crore in April 2017,” the Export Promotion Council for SEZ and Export Oriented Unit (EPCES) said in a statement. Dr. Vinay Sharma, Officiating Chairman of EPCES said that new government policies have managed to register a healthy growth roadmap for manufacturing and service industry.
The Business in 204 Special Economic Zones (SEZ) has clocked 18% increase, year on year between 2016-17 and 2017-18. This has been in spite of the challenges faced, with factors such as non-removal of MAT, imposition of Dividend Distribution Tax and impending sword of sunset Clause from 2020 (when the tax benefits will go away).
Additionally the tight competition world over, from established & upcoming free zones from almost every country has not acted as a deterrence to the growth velocity. The biotech export from the SEZ has also seen a surge of 58% year on year basis between years ending April 2017 and April 2018. India has exported computer and electronic software worth 30,892 crores against 24,614 crores last year.
Electronics export has surged to 417% against last year, still lot more progress to do. Non-conventional energy has shown a significantly high surge in export Rs.20 crores in April 2018 against Rs.7 crores in April 2017 i.e. 161% surge in export.
Software transactions from different zones have increased to 26% from previous year April 2017. Kandla has observed the highest surge in software export Rs.1719 crore of 1336% against previous year Rs.120 crore. Falta has also surged 34% from previous year April 2017.
The combined export from SEZs in India of merchandise and software has been of 51,440 crores as against 44,102 crores in last year i.e. 17%. Cochin, Falta and Noida have observed a surge of 57%, 52% and 17% respectively.
Dr. Vinay Sharma, officiating Chairman of Export Promotion Council for EOUs & SEZs elaborated, “SEZs has provided favorable conditions for the growth of the manufacturing and service industry and has eliminated unwanted policies and have reduced delay in orders. A positive environment for business, an abundance of greenery increases the productivity of the workforce.”