At present the State has 109 formal approvals, 33 operational SEZs
With more units launching their operations, the export turnover from Special Economic Zones (SEZs) in Andhra Pradesh is set to increase from last year's Rs.13,336 crore to Rs.25,000 crore by the end of current fiscal.
The turnover was Rs.5,554 crore during 2009-10. At present, the State has 109 formal approvals, 75 notified and 33 operational SEZs. To create awareness on opportunities in SEZs, ASSOCHAM India and Export Promotion Council of Export-Oriented Units and SEZs (EPCES), and the Regional Governing Council, Visakhapatnam SEZ, will organise a seminar at Hotel Gateway on Thursday.
VSEZ Development Commissioner M.S. Rao, Assistant Development Commissioner K. Srinivas and EPCES member and co-chairman of SEZ Council ASSOCHAM Vinay R. Sharma told reporters that the purpose of the seminar was to sensitise investors and business community on business opportunities in the SEZs.
ASSOCHAM secretary-general D.S. Rawat, and partner in Viash Associates Advocates Hitender Mehta will speak. The seminar is sponsored by the Oil Field Warehosue & Services.
Mr. Rao said there was tremendous growth in exports from SEZ units during past five years. As growth of exports was growing rapidly, AP was emerging as one of the pioneering States in establishing SEZs.
The SEZ Act which came into being in 2005 and became effective in 2006 has just completed five years. “Now it is the time for introspection,” he said.
SEZs set up all over the world got a fillip after liberalisation of economy. Today, there are more than 3,000 SEZs in 120 countries boosting exports, foreign and domestic investments and employment.