VSEZ records 24% higher exports

Visakhapatnam: Zonal Development Commissioner, Visakhapatnam Special Economic Zone (VSEZ) Srinivas Muppaala stated that VSEZ has recorded exports to the tune of Rs 1.62 lakh crore during April-December last year.

The exports recorded an increase of 24 per cent over the previous year. Of this, service exports include Rs 1.17 lakh crore and merchandise exports are Rs 44,911 crore. Service exports grew by 23 per cent, while merchandise exports rose by 27 per cent over the previous year.

The VSEZ has attracted investment of Rs 1,04,961 crore and generated employment for 6,61,579 people as on June 30, 2023. He informed that during the 3rd quarter (October-December last year), one new SEZ and four new SEZ unit proposals have been granted approval in Telangana and Andhra Pradesh.

The SEZ will make an investment of Rs 980 crore and provide employment to 10,240 people. The newly-approved SEZ units will make an investment of Rs 67.81 crore and provide employment to 732 people.

In Andhra Pradesh, one new SEZ unit proposal has been granted approval to Tanmayee Logistics in Kakinada SEZ Limited for rendering warehousing and auxiliary services.