1. Home >
  2. Export Import News >
  3. SEZ >
  4. VSEZ beats corona blues to clock 17% growth in 1.5 months >
  5. VSEZ beats corona blues to clock 17% growth in 1.5 months

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

VSEZ beats corona blues to clock 17% growth in 1.5 months.

Date: 30-05-2020
Subject: VSEZ beats corona blues to clock 17% growth in 1.5 months
HYDERABAD: The Visakhapatnam Special Economic Zone (VSEZ), that includes the Information Technology zone of Hyderabad and the pharma SEZ in Vizag, managed to notch exports of Rs 8,287 crore for the April 1 to May 19, 2020, period despite the ongoing coronavirus crisis. 

This was a 17.4% growth as compared to the Rs 7,057 crore it clocked in the corresponding period of 2019-20. 

VSEZ is optimistic about achieving its Rs 1 lakh crore exports target in financial year 2020-21 and clocking a 10-12% growth over financial year 2019-20, if Covid-19 is controlled in the first quarter, said VSEZ Development Commissioner, A Rama Mohan Reddy, who is the zonal head for all the SEZs and export oriented units (EOUs) in the states of Andhra Pradesh, Telangana, Chhattisgarh and the Union territory of Yanam. 

Explaining the reason for his optimism he said in the last two months, VSEZ exports from pharma and IT, which account for 85% of exports, were largely unaffected. 

“Lockdown 1.0 to 4.0 have had a tremendous impact on the economic performance of the country, especially production and exports from the industrial sector. But VSEZ has had 96% units operational, excluding those in the confinement zones, with strict compliance of standard operating procedures (SOPs) put in place by the Union ministry of home affairs.” 

“Despite nearly 60 days of lockdown, the SEZ units and EOUs in the zone have contributed to exports and are earning foreign exchange. As on date, as many as 585 of the total 702 units in the zone are operational. Of these, around 363 are on Work From Home,” he said. Prior to the lockdown, VSEZ had 510 units operational across over 58 SEZs and 192 EOUs in three states of AP, Telangana and Chhattisgarh. 

“As per the latest updates by customs officers, in SEZs only 21.32 % of the total staff are working in the units by observing social distancing norms. A total of 3,00,693 employees are working from home, especially in IT and ITeS units in SEZs and EOUs,” Reddy said. 

“We have also achieved growth in merchandise to the tune of 12.77%, apart from growth of 20.6% in the services sector. So far, Laurus labs of APSEZ, which falls in the zone, has exported 11.47 million tablets of HCQ to USA, South Africa, Singapore, Malawi and Belgium,” he said. 

Source:-timesofindia. indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 25-08-2020

Date: 06-07-2020
Notification No. 29/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, to increase the rate of duty of customs on imports of Phthalic Anhydride originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement, on recommendation of preliminary findings of Directorate General of Trade Remedies under India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017.

Date: 02-07-2020
Notification No. 55/2020 - Customs (N.T.)
Exchange Rates Notification No.55/2020-Custom (NT) dated 02.07.2020.

Date: 01-07-2020
Notification No. 58/2020 – Central Tax
Seeks to make eighth amendment (2020) to CGST Rules

Date: 30-06-2020
Notification No. 54/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 30-06-2020
Circular No.31/2020-Customs
Extension of validity of AEO certification for ease of renewal process (Modification in Circular No. 27/2020 dated 02.06.2020) [Circular No. 31/2020 - Customs dated 30.06.2020].

Date: 30-06-2020
Notification No. 57/2020 – Central Tax
Seeks to amend notification no. 52/2020-Central Tax in order to provide conditional waiver of lat fees for the period from July, 2017 to July, 2020.

Date: 30-06-2020
PUBLIC NOTICE No. 11/2015-2020
Extension of validity of Recognition of Pre-shipment Inspection Agencies (PSIAs

Date: 29-06-2020
Trade Notice No. 17/2020-2021
Procedure and Criteria for submission and approval of applications for export of PPE Medical Coveralls for COVID-19

Date: 27-06-2020
Notification No. 55/2020 – Central Tax
Seeks to amend notification no. 35/2020-Central Tax in order to extend due date of compliance which falls during the period from "20.03.2020 to 30.08.2020" till 31.08.2020.

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001