Visakhapatnam Special Economic Zone (VSEZ) has reached a significant milestone in the fiscal year 2023-24, with exports soaring to an impressive 2.24 trillion rupees, marking a remarkable 24% surge compared to the previous year.

According to the zonal development commissioner of VSEZ, Srinivas Muppaala, the export breakdown reveals services exports amounting to 1.54 trillion rupees and merchandise exports totaling 699.24 billion rupees.

The growth trajectory illustrates a robust performance, with services exports expanding by 18% and merchandise exports witnessing a substantial 43% surge from the preceding year.

Alongside this remarkable growth, VSEZ has also approved 31 new SEZ unit proposals, with nine in Andhra Pradesh and 22 in Telangana.

Additionally, a new SEZ has received approval, further enhancing the economic landscape of the region.

The investment inflow into VSEZ has been noteworthy, reaching 1.1 trillion rupees, while the zone has contributed significantly to employment generation, with 610,186 individuals employed as of December 2023.

This achievement underscores VSEZ's pivotal role in fostering economic development and employment opportunities in the region.

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