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Fresh approvals for IT/ITES sector to boost exports worth Rs. 4974, says VSEZ Chief

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The Unit Approval Committee (UAC) of Visakhapatnam Special Economic Zone, chaired by its Development Commissioner, A Rama Mohan Reddy, convened a meeting on a virtual mod for the state of Telangana and approved setting up of few SEZ units and also the expansion of existing IT/ITES based units, in Telangana State. There are a total of 61 SEZs operational under VSEZ as on date with 527 units operational therein, and out of that 30 No of SEZs fall under the IT Sector, and 26 out of them are operational in Telangana alone.

The first UAC meeting of the VSEZ for the FY 2021-22, was held on 22nd April, approved setting up of 2 new units namely M/s Charnham India Private Limited, M/s Cognizant Mortgage Services Corporation both in M/s. Sundew Properties Ltd SEZ in Ranga Reddy Dist. of Telangana both under IT/ITES Sector. Similarly, 3 units sought for expansion of existing IT/ITES are M/s Wipro Ltd., M/s HCL Technologies Ltd., and M/s Salesforce.com in M/s Sundew, Phoenix, and Divyasree NSL SEZs all located in RR Dist. of Telangana. Setting up of these new units as well as expansions, will attract investment of Rs. 787 Cr, will generate employment to 6088 and will achieve exports to the tune of 4974 Cr over a period of 5 years.

The meeting was attended virtually by all the senior officials who are the members of UAC viz., Representative of DGFT, Revenue, Excise, Customs, Drug Controller, and TS IT, besides the Units and Developers, JDC, DDC and Customs officials of VSEZ.

During 2020-21, the VSEZ made exports to the tune of Rs. 113975Cr out of which Exports from Telangana were to the tune of Rs 83525 Cr and recorded overall growth in the exports to the tune of 15% so far, compared to last year. VSEZ recorded growth in Merchandise of 26.97% the highest in the country under SEZs and 9.44 % under the Services sector.

VSEZ Provided employment to 432924 during the year 20-21 and has shown an increase in employment to the tune of 10.07%and, an investment of Rs 76681Cr which is 36% more than last year’s investment, despite the pandemic situation in the country. There is a constant increase in the number of units under VSEZ says Mr. Reddy.

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