VEPZ records 18% increase in exports in the first quarter of 2024-25

VEPZ records 18% increase in exports in the first quarter of 2024-25

The Visakhapatnam Export Processing Zone (VEPZ) has recorded exports to the tune of ₹62,198 crore during the first quarter of 2024-25 (April-June 2024) registering an increase of 18% over the corresponding period in the previous year.

Of this, services exports are ₹37,758 crore and merchandise exports are ₹24,439 crore. Merchandise exports increased by 72% over the previous year for the corresponding period. During the quarter, three new SEZ unit proposals and two EOU proposals (Andhra Pradesh -2 , Telangana-1 SEZ & 2 EOUs) have been approved, Srinivas Muppala, Zonal Development Commissioner, Visakhapatnam Special Economic Zone(VSEZ), said in a statement here on Saturday.

In Andhra Pradesh, two new SEZ unit proposals have been granted approval to M/s.Infinity Minerals & Abrasives LLP for processing of minerals and M/s.U.P.Pro Inventory Exports Pvt. Limited for undertaking trading activity in Visakhapatnam Special Economic Zone. In Telangana, one new SEZ unit proposal has been granted approval M/s. ZF Passive Safety System India Pvt. Limited for rendering IT Services and two new EOU proposals for M/s.Granules India Limited for bulk drugs and M/s. Rista Pharma Pvt. Limited for pharmaceutical products, the release added.

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