Visakhapatnam Special Economic Zone records 30 per cent increase in exports

Visakhapatnam : Visakhapatnam Special Economic Zone (VSEZ) Zonal Development Commissioner Srinivas Muppaala stated in a press release that VSEZ has recorded exports to the tune of Rs 1,04,278 crore during the period of April-September 2023, recording an increase of 30 percent over the previous year for the corresponding period.

Services exports are Rs 76,413 crore and merchandise exports touched Rs 28,315 crore. Compared to the previous year, services exports grew by 34 percent while merchandise exports increased by 21 per cent, he mentioned. The VSEZ has attracted investment of Rs 1.04 crore and generated employment to 6.61 lakh people in 2023.

Srinivas Muppaala has informed that during the 2nd quarter (Jul-Sept 2023)11 new SEZ unit proposals and two export oriented unit proposals have been granted for setting up of units in the states of Telangana and Andhra Pradesh. In Andhra Pradesh, five new SEZ units were approved and all units will be established with an investment of Rs 167 crore and provide employment to 4,048 people, he added.