The Visakhapatnam special economic zone which looks after the regulatory matters of 58 SEZs and 192 EOUs(export oriented units) in the States of AP, Telangana and Chattisgarh has posted record exports of Rs 96,886 Cr for FY ending 31st March 2020.
This is a significant growth of 32% compared to last year’s Rs 72963 Cr exports the zone had achieved.
Lauding the results of the zone its Development Commissioner Mr A Rama Mohan Reddy commended the efforts put in by the various SEZ Units especially those of IT/IT Enabled Services, and Pharma, for having achieved the highest standards of exports during the Fiscal 2019-20.
“These exports are the highest among all the 7 zones in the Country.”
— Mr ARM Reddy, VSEZ Development Commissioner.
‘This is the highest among all the 7 zones in the Country’ said Mr Reddy.
With 489 operational units Mr Reddy informed that during the current year, direct employment generation was to the tune of 3.79 lakhs, compared to 3.39 lakh last year, marking a growth of nearly 12%.
“Despite all odds we have issued approvals to 95 new units, with a projected investment of Rs. 8631 Cr, estimated exports to the tune of Rs 59111 Cr and projected employment generation to 69077 persons. This shall be brought in over the next 5 years” Mr Reddy Said.
It was also informed that during the current year, five new SEZs have also become operational in VSEZ.