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VSEZ nod for new IT, ITeS units in Telangana
VSEZ nod for new IT, ITeS units in Telangana
The Unit Approval Committee (UAC) of Visakhapatnam Special Economic Zone at a meeting held virtually for Telangana, approved setting up of few SEZ IT/ITES based units, besides granting routine approvals for broad banding and procurement of duty free material worth hundreds of crores for the upcoming SEZs in Hyderabad such as Sustain Properties.
Visakhapatnam: The Unit Approval Committee (UAC) of Visakhapatnam Special Economic Zone at a meeting held virtually for Telangana, approved setting up of few SEZ IT/ITES based units, besides granting routine approvals for broad banding and procurement of duty free material worth hundreds of crores for the upcoming SEZs in Hyderabad such as Sustain Properties.
There are a total of 61 SEZs operational under VSEZ as on date with 527 operational units in and out of that 30 SEZs fall under IT Sector, and 26 are operational in Telangana alone.
The 2nd UAC meeting of the VSEZ for the FY 2021-22 chaired by VSEZ Development Commissioner A. Rama Mohan Reddy on Monday approved setting up of two new units, one of them a mega unit namely M/s Qualcomm India Pvt Ltd (U-2), over an area of 1.57 million sq feet in 17 floors, in Sustain Properties Pvt Ltd SEZ, which was recently notified as SEZ in Hyderabad.
Qualcomm is basically into Wireless technologies, 5G R&D, Auto R&D, Artificial Intelligence, will set up a mega facility in Hyderabad which will be operational by September 2022. This SEZ is developed by Raheja Group. The total proposed investment by Qualcomm is Rs 3,904 crore and will export IT services of Rs 28,658 crore and provide employment to 8,700 in the next five years.
The other unit to be set up is of Vector 97 Software and Services Pvt Ltd, to be set up in DLF Infocity Hyderabad Pvt Ltd, and will achieve FOB value of exports to the tune of Rs 13 crore and generate jobs to 100 persons over a period of five years.
The meeting was attended virtually by all the senior officials who are members of the UAC viz., representative of DGFT (Director General of Foreign Trade), Revenue, Excise, Customs, Drug Controller, and TS IT, besides the units and developers as well as VSEZ.
