in ,

Operation of new Units and expansion in IT/ITES sector to boost exports by Rs 3089 Cr says VSEZ Chief


Unit Approval Committee (UAC) of VSEZ, chaired by its Development Commissioner, A Rama Mohan Reddy, convened a meeting virtually 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 of date with 526 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.

The last UAC meeting of VSEZfor the FY 2020-21, held on 22nd March, approved the setting up of 2 new units namely M/s. Legato Health Technologies LLP (u-3) in M/s. Phoenix Infocity Pvt. Ltd, SEZ, andM/s. Rocksalt Interactive Games P Ltd in M/s. NSL SEZ (Hyderabad) Pvt. Ltd, SEZ in Ranga Reddy Dist. of Telangana. Similarly, 2 units sought for expansion of existing IT/ITES are Ascent Business Solutions and Infosys (U-7) both located in M/s NSL SEZ (Hyderabad) Pvt. Ltd., in IDA Uppal of RR Dist. of Telangana. Setting up of these new units as well as expansions will attract investment of Rs. 262 Cr, and will generate employment to 4783 and will achieve exports to the tune of 3245 Cr over a period of 5 years.

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

During 2020-21, the VSEZ has made exports to the tune of Rs. 103512Cr out of which IT Exports were to the tune of Rs 69686 Cr and recorded overall growth in the exports to the tune of 15.60% so far, compared to last year. VSEZ recorded growth in Merchandise of 24.39% the highest in the country under SEZs and 11.77 % under the Services sector. VSEZ provided employment to 393312, and so far, an investment of Rs 56180 Cr has been made in VSEZ by the entrepreneurs says Mr. Reddy.

#VizagNews #Visakhapatnamnews #breakingnews #latestnewsvizag


Leave a Reply


Middle Class Things You Will Relate To If You Are Raised In One

Middle Class Things You Will Relate To If You Are Raised In One


Yesvantpur – Bhagalpur – Yesvantpur Weekly Special Express