VISAKHAPATNAM: As many as 53 developers located in Visakhapatnam Special Economic Zone (VSEZ) achieved highest growth in exports (Rs 44,571 crore) from April 1 to September 30 in the current financial year against Rs 34,459 crore during the last fiscal year.
Addressing media persons here on Monday, VSEZ Zonal Development Commissioner ARM Reddy said the zone recorded 29.35 per cent growth, highest among all seven SEZs—Cochin, Mumbai, Falta, Kandla, Chennai and Noida—in the country. He praised the efforts of all developers and 472 units in VSEZ for achieving the highest exports in merchandise and services despite the slowdown in the automobile sector.
He said there are 351 notified SEZs in the country and out of the 232 are operational. The investment made by these SEZs so far is Rs 5.07 lakh crore and providing employment to 20.61 lakh compared to 1.34 lakh in 2006. Exports from 5,109 SEZ units in the country during 2018-19 are to the tune of Rs 7.01 lakh crore.
Reddy said VSEZ, which was set up in 1989 as VEPZ, has its jurisdiction over Andhra Pradesh, Chhattisgarh, Telangana and Yanam, though its activity is prominent in the State and Telangana.
VSEZ’s contribution to the country’s exports is pegged at Rs 74,747.61 crore during 2018-19 and attracted investment worth Rs 55,452.40 crore and providing jobs to more than 3,45,134 persons apart from support to infrastructure, domestic industries, domestic service providers and local economy, he added.
The SEZs, which have achieved the highest growth rate this fiscal year in exports are APIIC Ltd, Naidupeta, Sricity SEZ e, FAB City SPV (India) Limited, Brandix India Apparel City Pvt Ltd, and Bharatiya International SEZ Ltd.
He said, “We have approved 46 units in multiple sectors in the zone in the past six months with an estimated investment of Rs 2,944 crore and estimated export worth Rs 26,654 crore and employment of 25,329 people in five years.
Investment in software sector was the highest at Rs 23,239.67 crore, followed by pharma sector with Rs 8,428.60 crore, non-conventional energy with Rs 2,057.00 crore and textiles and garments with Rs 1,055.30 crore, he said.
The overall employment generation in SEZs of Andhra Pradesh and Telangana has touched 3,45,134 till June this year with the software sector leading in employment generation with 2,79,065. Reddy hoped the SEZs in the zone will achieve Rs 85,000 crore target this fiscal year in exports.
Chambers lauds VSEZ
Meanwhile, Andhra Pradesh Chambers of Commerce and Industry Federation former president G Sambasiva Rao along with core committee members BSSV Narayana, KVS Varma and G Raghu met Reddy and congratulated him for achieving the highest growth among seven zones in the country.
They lauded him for his pro-active and industry-friendly attitude.