VSEZ registers 20% growth in exports

 Visakhapatnam : Zonal Development Commissioner, Visakhapatnam Special Economic Zone (VSEZ) Srinivas Muppaala stated that VSEZ has recorded exports to the tune of Rs 69,733 crore during the third quarter of 2024.

In a statement released here on Wednesday, he mentioned that the exports recorded a growth of 20 per cent over the same quarter during the previous year. Of them, service exports constitute Rs 40,996 crore, while merchandise exports Rs 28,737 crore.

He informed that during last April-December, VSEZ recorded exports to the tune of Rs 1,99,396 crore, registering a growth of 22 per cent compared to the same period during the previous year. Of this, service exports were Rs 1,19,786 crore, while merchandise exports comprise Rs 79,610 crore.

During last October-December, Duvvada SEZ made exports of Rs 1,695 crore, registering a growth of 28 per cent.

From April to December in 2024, the zone made exports of Rs 7,092 crore, recording a growth of 24 per cent. Of this, merchandise exports constitute Rs 7,069 crore, the Zonal Development Commissioner of VSEZ shared.

Last year, five new SEZ unit proposals (Andhra Pradesh - 1, Telangana - 4) and four new EOU proposals were approved.

Also, VSEZ attracted an investment of Rs 1,12,276 crore and generated employment for 6,18,551 people as on March 31, 2024,

He informed that during the period October-December last year, four new SEZ unit proposals and four new EOU proposals have been granted approval in the State of Telangana and one new SEZ unit proposal in Andhra Pradesh.

The newly approved SEZ units and EOU units will make an investment of Rs 616.26 crore and provide employment to 2,207 people.

In Andhra Pradesh, one new SEZ unit proposal was granted approval to Super Ranila for processing and manufacture of edible oils in Visakhapatnam Special Economic Zone, Duvvada, Visakhapatnam.

In Telangana, approval was given to four new SEZ unit proposals.