VSEZ records increase of 18% exports in first quarter

Visakhapatnam : Zonal Development Commissioner of Visakhapatnam Special Economic Zone (VSEZ) Srinivas Muppaala announced that VSEZ recorded exports to the tune of Rs 62,198 crore during the first quarter of 2024-25, recording an increase of 18 percent over the previous year. Of this, services exports include Rs 37,758 crore, while merchandise exports are Rs 24,439 crore. Merchandise exports increased by 72 percent over the previous year for the corresponding period.

During the quarter, three new SEZ unit proposals and two EOU proposals (Andhra Pradesh -2 , Telangana-1 SEZ and 2 EOUs) were approved.

VSEZ has attracted investment of Rs 1,12,276 crore and generated employment to 6,18,551 people as on March 2024.

Further, he informed that during the first quarter, one new SEZ Unit proposals and two new EOU proposals were granted approval in the state of Telangana and two new SEZ unit proposals in Andhra Pradesh.

The newly approved SEZ and EOU units will make an investment of Rs 97.24 crore and provide employment to 1,500 people. In Andhra Pradesh, two new SEZ unit proposals have been granted approval for undertaking trading activity in Visakhapatnam Special Economic Zone.