VSEZ achieves exports turnover of Rs.53,410 crore

Visakhapatnam Impressive strides made in the pharma sector has enabled Visakhapatnam Special Economic Zone (VSEZ) to achieve exports to the tune of about Rs.53,410 crore till September 23 during the current financial year.

VSEZ, which has jurisdiction over Andhra Pradesh, Telangana and Chattisgarh, has registered a growth of 26 per cent so far. The zone has set a target to achieve a growth of 30 per cent by the end of FY 2021-22.

Despite the setback of COVID-19 pandemic, VSEZ has clocked Rs. 1.13 trillion-crore turnover in March, 2021 after 32 years, This has been acknowledged as a remarkable milestone since its inception.

VSEZ Development Commissioner A. Ram Mohan Reddy told Bizz Buzz that it achieved exports to the tune of Rs 53,410 crore up to September 23, 2021 accounting for a growth of 26 per cent. He said this was higher than last year for the similar period, and is a distinction by itself in the country with a heavy contribution to the earning of foreign exchange.

Reddy appreciated all the units and developers, especially the pharma sector, metal and alloys sector, for their contribution, because of which merchandise recorded a growth of 21 per cent and services of 28 per cent this year. Last year the exports from VSEZ crossed Rs 1.14 trillion mark, a record in the last 32 years of existence of VSEZ, despite the prolonged spell of the pandemic. He said the units at Duvvada and those located elsewhere in Andhra Pradesh and Telangana had also made a significant contribution in rolling out products to fight against COVID-19.