VSEZ Exports Surge 22% To Rs 1.27 Trillion

VSEZ attracted investment of Rs1,12,276 cr and generated employment to 6,18,551 people as on March 31, 2024 - Srinivas Muppaala, Zonal Development Commissioner, VSEZ

Visakhapatnam: Visakhapatnam Special Economic Zone (VSEZ), which looks after SEZs and EoUs in Andhra Pradesh, Telangana, Chhattisgarh and Yanam, has recorded exports to the tune of Rs1,27,744 crore during the first half of 2024-25 financial year.

VSEZ, which is under the Union Ministry of Commerce and Industry, during the period of April-September, 2024, has achieved a growth of 22 per cent over previous year for the corresponding period, according to Srinivas Muppaala, Zonal Development Commissioner, VSEZ.

He said on Wednesday that of the turnover made in H1, services exports account for Rs78,376 crore with merchandise exports standing at Rs49,368 crore. During the period July-September, two new SEZ Unit proposals viz one each from Andhra Pradesh and Telangana have been ap-proved.

VSEZ attracted investment of Rs1,12,276 crore and generated employment to 6,18,551 people as on March 31, 2024. Srinivas said during the period July-September, 2024, the proposed SEZ units envisaged an investment of Rs11 crore with a commitment to provide jobs to 305 people.

In Andhra Pradesh, one new SEZ unit proposal was granted to Innocito Private Ltd for rendering of IT/IT Enabled Services in Wipro Limited Special Economic Zone, Visakhapatnam. In Tel-angana, one new unit proposal was approved in favour of Terafina Services India Pvt Ltd for rendering IT services.

VSEZ since its establishment in 1989 at Duvvada here over the years has been transformed into a pioneering Export Processing Zones (EPZs) and has evolved into a thriving hub for trade and commerce. Converted into a Special Economic Zone (SEZ) in 2003, VSEZ has been instrumental in driving economic growth in the region.

Strategically located in an area of 360 acres in the industrial hub of Visakhapatnam with the Duvvada Railway Station located in close proximity, VSEZ offers a range of incentives, conces-sions and support services to new, upcoming, and existing units across various sectors. VSEZ’s jurisdiction spans across SEZs in Andhra Pradesh, Telangana, Chhattisgarh and Yanam, with 85 notified SEZs operating under its umbrella.

Officials said the zone offers a plethora of opportunities under one roof with a strategic location for business success, boasting unbeatable connectivity by air, road, and sea. Its proximity to Visakhapatnam International Airport, National Highway, and Visakhapatnam Port Authority and Adani Gangavaram Port Limited also makes it an ideal destination for trade and commerce.