Visakhapatnam Special Economic Zone (VSEZ) has achieved exports to the tune of Rs 1,04,278 crore between April and September 2023, an increase of over 30 per cent over the previous period during the last fiscal. This includes services exports of Rs76,413 crore and merchandise exports of Rs 28,314 crore. The services exports increased by over 34 per cent while merchandise exports increased by over 21 per cent when compared to that of the corresponding period in the previous year.
The VSEZ was established in 1989 and is spread over around 360 acres with head office at Duvvada in Vizag city.
It has been catering to the needs ofexport-oriented units in Chhattisgarh, Andhra Pradesh, Telangana and Yanam.
VSEZ Zonal Development Commissioner, Muppaala Srinivas said that a total of 640 units have been functioning in the jurisdiction of VSEZ in Andhra Pradesh and Telangana. VSEZ has attracted investments of Rs 1,04,961 crore and generated employment for over 6.6 lakh as of June. Proposals for 11 new SEZ units and two Export Oriented Units (EOUs)
were approved in Andhra Pradesh and Telangana and these units would make an investment of Rs 167 crore and provide employment to over 4,000 people.
We are appealing to the investors to set up various units in the jurisdiction of VSEZ and we are expecting that VSEZ will achieve more exports in the coming years, said the 19194 batch IRSME officer Srinivas.
The VSEZ officials said that proposals for five new SEZ units—Akshara Metals Private Limited for manufacturing gold jewellery and polishing of diamonds, Gaia Crew Private Limited for trading biodegradable cutlery, Lee Health Domain for manufacturing of nutraceuticals, Salgo Minerals for Heavy Minerals and Tanmayee Logistics for warehousing and auxiliary services—were approved in Andhra Pradesh.
In Telangana, proposals for six new SEZ units_ FedEx Express Transportation and Supply Chain Services (India) Private Limited, De Novo Technology Solutions Private Limited, DigitalOps Technology Private Limited, Minfy Technologies Private Limited, Terafina Software Solutions Private Limited and Mphasis Limited were cleared, they added.