Visakhapatnam Special Economic Zone (VSEZ) seems to be having a fruitful FY 25. The zone recently reported its export numbers for the first 9 nine months of the current fiscal i.e. April to December 2024 wherein it recorded exports to the tune of Rs.199,396 cr registering a significant growth of 22% for the same period during the previous year.
Of this service exports were Rs.119,786 Cr while Merchandise exports stood at Rs.79,610 cr. The zone also saw its export numbers for its most recent quarter i.e. Q3 zoom.
‘For Q3 i.e. October – December 2024 we have registered exports of Rs. 69,733 crs registering a growth of 20% over the same quarter during the previous year’ said Mr Srinivas Muppaala, IRSME, VSEZ’s Zonal Development Commi- ssioner.
Of this service exports were Rs. 40,996 crs and Merchandise exports Rs.28,737 crs. Duvvada SEZ. The VSEZ, Duvvada SEZ registered exports of Rs. 7,092 cr (April-Dec 2024) registering a growth of 24%. Of this, Merchandise exports are Rs.7,069 crores while service exports were a mere Rs.23 crores.
‘Just Duvvada SEZ’s Q3 (Oct-December’2024) export numbers stood at Rs.1,695 cr registering a growth of 28%’ noted Mr Srinivas.
Approval of New units
For the period Oct-Dec’2024 five new SEZ Unit proposals were approved with Andhra Pradesh getting 1 and Telangana getting 4.
In addition the state of Telangana also received approvals for 4 new EoUs. ‘The new SEZ unit granted approval in AP is to M/s.Super Ranila for Processing and manufacture of Edible Oils in M/s. VSEZ, Duvvada’ said the development commissioner.
Similarly the 4 new SEZs coming up in Telangana include M/s. FTG Aerospace Hyderabad Pvt. Limited (Aero Space related) M/s. PTCG India Pvt. Limited, M/s.Hyundai Transys India Pvt. Limited, M/s.UBS Business Solutions (India) Pvt. Limited for rendering IT/ITES.
And the four new EOU proposals granted approval in Telangana include M/s.NAAZ Buying House (Processing of Betul Nut), M/s.Hycon Laboratories Limited, M/s.New Atom Labs Pvt. Limited (2 units) for rendering Pharmaceutical and CRO services.
‘The newly approved SEZ units and EOU units are projected to make investments of Rs. 616.26 crores and provide employment to 2207 people’ said the DC, VSEZ.
VSEZ has attracted investment of Rs.112,276 crores & generated employment of 6,18,551 as on March 31st 2024.
