HomeIndustry NewsExports from VSEZ up 24%

Exports from VSEZ up 24%

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Visakhapatnam Special Economic Zone has recorded exports to the tune of Rs.2,24,631 crores for the period 2023-24 thereby recording an increase of 24 % over the previous year i.e. 2022-23.

Mr Srinivas Muppaala, IRSME, Zonal Development Commissioner informed that of this services exports accounted for Rs.1,54,707/- crores while merchandise exports were Rs.69,924/- crores.  

Services exports grew by 18 % while merchandise exports increased by 43% over the previous year for the corresponding period. 

Similarly during the last fiscal 31 new Special Economic Zone Units were approved i.e. 9 in Andhra Pradesh and 22 in Telangana. 

‘In addition one new SEZ has also been approved in Andhra Pradesh. 

The newly approved SEZ units will make an investment of Rs. 686.50 crores and provide employment to 9587 people’ said the development commissioner. 

This new Special Economic Zone unit proposals has been granted approval to  M/s.PSKS Golden Gem House Private Limited  in Visakhapatnam Special Economic Zone for processing of Diamond Cutting and Polishing and manufacture of Gold Ornaments (Plain/Studded). 

Similarly in the 4th quarter (Jan-Mar’2024) four new SEZ Unit proposals have been granted approval in the state of Telangana. These four new Special Economic Zone Unit proposals that have been granted appro- val are: 

(1). M/s. Evertop Textile & Apparel Complex Private Limited for textiles  

(2). M/s.  Global Logic India Pvt Ltd  

(3). M/s. Tailored Management India Pvt Ltd 

(4). M/s. Forsys Software India Pvt. Limited  are for IT/ITES. All in all VSEZ boasts to have attracted total invest- ments to the tune of Rs.1,10,094 crs and gene- rated employment of 6,10,186 people as on 31.12.2023.

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