VSEZ exports rise 34% to Rs 50,195 cr in Q1
Services exports up 36% to Rs35,992 cr and merchandise exports rose 28% to Rs14,203 cr during qtr
image for illustrative purpose
Visakhapatnam Visakhapatnam Special Economic Zone (VSEZ) recorded 34 per cent rise in exports at Rs50,195 crore for the first quarter of 2023-24 financial year. Of this, services exports were to the tune of Rs35,992 crore and merchandise exports fetched Rs14,203 crore. Services exports grew by 36 per cent, while merchandise exports increased by 28 per cent over the previous year for the corresponding period, according to Srinivas Muppaala, Development Commissioner at VSEZ. He said VSEZ has attracted investment of Rs1,04,961 crore and generated employment for 6,61,579 as on June 30, 2023.
The Development Commissioner informed that during the quarter, 12 new proposals have been granted approval for setting up of units in the SEZs in Telangana and Andhra Pradesh. These units will make an investment of Rs 1,956 crore and provide employment to 2943 people.
In Andhra Pradesh, three manufacturing units have been granted approval, Advait Biofuels Pvt Limited for manufacture of Biodiesel, Biocon Limited and Granules CZRO Pvt Limited for manufacture of pharmaceutical products.
In Telangana, nine units have been granted approval for Purview India Consulting and Services LLP, Sigmasoft Infotech Pvt Ltd, Cadeploy Engineering Pvt Ltd, Inspire Brands Global Innovation Center India Pvt Ltd, Offchip Technologies Pvt Ltd, Safran Aircraft Engines Services Pvt Limited, Arowana Engineering and Survey Services India Pvt Ltd, Astreya Consultancy India Pvt Ltd and FedEx Express Transportation and Supply Chain Services India Pvt Ltd.
