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Exports from Special Economic Zones (SEZs) grew 64 per cent to Rs 1,18,321.56 crore during the first quarter of this financial year. Stating this, Mr P.C. Nambiar, Vice-Chairman, Export Promotion Council for EOUs and SEZs (EPCES), said that as on June 30, 2012, investments worth Rs 2,13,605.54 crore were made in SEZs and the sector generated employment to 9,20,243 people. He said the Government had granted 588 formal approvals for setting up of SEZs, adding that 386 had been notified as on June 30, while 158 were in operation. Mr Nambiar said the Minimum Alternate Tax and Dividend Distribution Tax had affected SEZ growth, investments, employment and exports.
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