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VIZAG Special Economic Zone excels in the Exports during the year

The Visakhapatnam special economic zone has achieved the highest growth in exports among all the seven SEZs in the country by registering a turn-over of Rs 44,571 Crores during the first six months of the current financial year 2019-20 as against Rs 34,459 Crores during the same period last financial year. The 472 units in the Zone have contributed to the unique feat during the year

The zone recorded 29.35 per cent growth, highest among all seven SEZs

Addressing media persons here on Monday 7 Oct, 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.

 Out of 351 notified SEZs, 232 operational

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 has its jurisdiction in Andhra Pradesh, Chhattisgarh, Telangana and Yanam, though its activity is prominent in AP and Telangana.

VSEZ’s contribution to the country’s exports

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.

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.

Reddy hoped the SEZs in the zone will achieve Rs 85,000 crore target this fiscal year in exports

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.

Meanwhile, Andhra Pradesh Chambers of Commerce and Industry Federation former president G Sambasiva Rao  congratulated the zone for achieving the highest growth among seven zones in the country. They lauded him for his pro-active and industry-friendly attitude.

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