Visakhapatnam: Visakhapatnam Special Economic Zone (VSEZ) has clocked exports to the tune of Rs.62,198 crore during the first quarter of 2024-25 accounting for an increase of 18% over the previous year.

According to VSEZ Development Commissioner Srinivas Muppaala, exports amounted to Rs.37,758 crore and merchandise exports totalled Rs.24,439 crore.

Merchandise exports increased by 72% over the previous year for the corresponding period. During the quarter, three new SEZ and two EOU proposals were received for Andhra Pradesh. Similarly, for Telangana one SEZ and two EOU proposals were approved. Srinivas said VSEZ as a whole, which has jurisdiction over Andhra Pradesh and Telangana, attracted investment of Rs.1,12,276 crore and generated employment for 6,18,551 people as on March 31, 2024.

He informed on Saturday that during the first quarter one new SEZ unit and two new EOU proposals were granted approval in Telangana and two new SEZ units in Andhra Pradesh. The newly approved SEZ and EOU units will attract an investment of Rs.97.24 crore and provide employment to 1500 people.

In Andhra Pradesh two new SEZ unit proposals have been granted approval to Infinity Minerals and Abrasives LLP for processing of minerals and U.P.Pro Inventory Exports Pvt. Limited for undertaking trading activity in the VSEZ.

In Telangana, one new SEZ unit proposal was granted approval by ZF Passive Safety System India Pvt. Limited for rendering IT services. Two new EOU proposals will come up in Telangana in the name of Granules India Limited for bulk drugs and Rista Pharma Pvt. Limited for production of pharmaceutical products.