The Visakhapatnam Special Economic Zone has recorded exports to the tune of Rs.62,198 crores in the first quarter of 2024-25 (Apr-Jun’2024) thereby recording an increase of 18% over the corresponding period i.e. 2023-24.
‘Of this, services exports were to the tune of Rs.37,758/- crores while merchandise exports were Rs.24,439/- crores.
Merchandise exports increased by 72% over the corresponding period last year’ informed Mr Srini- vas Muppaala, IRSME, Zonal Development Commissioner, VSEZ.
In addition three new SEZ Unit proposals and two EOU proposals (Andhra Pradesh -2 , Telangana-1 SEZ & 2 EOUs) were approved.
Mr Srinivas informed that 1 new SEZ Unit proposal and 2 new EOU proposals were granted approval in the state of Telangana and 2 new SEZ Unit proposals in Andhra Pradesh.
As per the development commissioner the newly approved SEZ and EOU units will make an investment of Rs.97.24 crores and provide employment to 1500 people.
The two new SEZ units granted approval to in AP are M/s.Infinity Minerals & Abrasives LLP for processing of Minerals and M/s.U.P.Pro Inventory Exports Pvt. Limited for undertaking Trading Activity in Visakhapatnam Special Economic Zone.
Similarly in Telangana the new SEZ Unit proposal granted approval to M/s. ZF Passive Safety System India Pvt. Limited is for rendering IT Services & two new EOU proposals for M/s.Granules India Limited for Bulk Drugs & M/s. Rista Pharma Pvt. Limited for Pharmaceutical products.
VSEZ has attracted a total investment of Rs.1,12,276 crores and generated employment for 618,551 people as of fiscal FY 24.
