VSEZ records exports worth Rs 34,746 crores up to Aug

Visakhapatnam: A Rama Mohan Reddy, Development Commissioner, VSEZ, addressed a group of entrepreneurs from domestic and international markets, in the field of SEZs through a webinar, on Friday on the eve of the 14th International Special Economic Zones Investment Summit, on the theme 'The Reset of Globalization and Rising India Opportunity.'

The meeting was chaired by Ravi Sanna Reddy, CMD of Sri City SEZ, from Chittoor district. Alok Chaturvedi, DG, Export Promotion Council of India and other dignitaries from India and abroad viz., UK, South Africa, and Ahmedabad were also present on virtual platform.

The focus of the summit was mainly to showcase investment opportunities, ease of doing business and highlight the manufacturing facilities available in various SEZs of India, Reddy said. The deliberations were intended to include benefits and investment opportunities and will help the industry to understand the policy and business prospects across sectors.

The summit was attended by a large participation of international investors, stakeholders and experts and served as a forum for business promotion, said Reddy.

While addressing the virtual gathering, Reddy said that VSEZ has a special entrepreneur friendly environment to attract the investors particularly in IT/Services sector and Pharma and hence has achieved exports of Rs 96,886 crore) last year with a growth in exports of 37.29%, and now during the crisis in 2020-21 up to August, it has achieved exports of Rs 34,746 crore against the total countries exports from SEZs of Rs 1.53 lakh crore.

VSEZ has so far achieved a growth rate of 11.72%, which is exemplary to all zones in the country, he said.

As per the last years records, the contribution in terms of exports from IT/ITES sector was 71%, chemical and pharma sector was 16%, textiles 2%, food and agro 2%, engineering 1% and all other miscellaneous contributed 10%.