Kochi

Over 700% growth in merchandise exports at CSEZ

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The Cochin Special Economic Zone (CSEZ) has seen its merchandise export business grow by more than 705% during the month of April this year compared to the same month last year. The total turnover at the Cochin zone grew to ₹3,708 crore during the month of April this year from previous year’s ₹461 crore. The national average for the export zones for merchandise exports is 5% with Falta (near Kolkata) coming a distant second to Cochin with 80% growth for the month of April this year.

The volume of total merchandise business for the export zones stood at ₹20,548 crore during this April compared to the ₹19,488 crore during the month of April last year. The monthly comparison also shows a fall of 44% in business for the Vizag Special Economic Zone.

April 2018 saw Cochin SEZ exporting ₹7,506 crore worth of software compared to ₹6,703 crore during the month of April last year. When combining both the merchandise and software export business for the month, Cochin SEZ recorded 57% growth. The combined business for the Cochin zone is ₹11,214 crore during April 2018 against ₹7,164 crore last year.

A statement issued by the Export Promotion Council said that business at the 204 Special Economic Zones has clocked 18% increase year on year basis “in spite of the challenges” like non-removal of MAT and imposition of Dividend Distribution Tax.

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Printable version | Dec 15, 2019 6:33:49 PM | https://www.thehindu.com/news/cities/Kochi/over-700-growth-in-merchandise-exports-at-csez/article24037522.ece

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