VSEZ records Rs 57,000 cr exports
Despite the prolonged sluggishness in global economy and a sullen global trade, the Visakhapatnam Special Economic Zone came out with flying colours on the export front last fiscal.
The sprawling SEZ, spread over 360 acres, notched up a total export of a whopping Rs 57, 134 crore during the year, up from Rs 44,999 crore in the previous year, mirroring an increase of 28 per cent.
Overall SEZs exports from India during the year was Rs 4.67 lakh crore, only marginally up from Rs 4.63 lakh crore in the previous year.
“With the robust infrastructure we have developed here, availability of skilled manpower and the international reputation we have, we are optimistic that we will maintain, if not better, this growrh rate,” Ms. Sobhana K.S.Rao, IFS, Development Commissioner, told VIS News Service.
The probable roll-out of GST and re-introduction of exemptions of MAT and Dividend Distribution Tax also add to the optimisim of the SEZ.
The SEZ also notched up a smashing 35 per cent rise in investments and a 21 per cent growth in number of employees, which touched 2.5 lakhs.
Ms Sobhana, who heads all the SEZs in AP (20), Telangana (26) and Chattisgarh (one), said in these three States, the 47 SEZs reported a fresh investment flow of Rs 44,456 crore.
New IT SEZs:
Ms Sobhana said five new IT SEZs are in the process of being approved in Hyderabad. This is in addition to the five such zones, which have already been approved, in Hyderabad. “All these ten new IT zones will be ready within two years. It takes shorter time to set up an IT SEZ, as it would be mostly a vertical structure,” she added.
Also, the Apache SEZ in Nellore will get two new units by Hong Yang Industry and Camphor Shoes Pvt ltd.
“Overall, SEZs in AP and India have a bright future, particularly with the Modi Government’s Make-in-India campaign,” Ms Sobhana said.