Exports from the special economic zones in Andhra Pradesh may be doubled and are likely to exceed Rs 25,000 crore during the current financial year (2011-12), according to Mr M.S Rao, Development Commissioner in charge of SEZs in Andhra Pradesh and Chhattisgarh.
At a press meet here on Wednesday, on the eve of a one-day seminar on SEZs being organised by the Visakhapatnam Special Economic Zone (VSEZ) and Assocham here on Thursday, he said there were currently 33 operational SEZs in Andhra Pradesh and their export performance during the first quarter was very encouraging. Together, the SEZs in the State had exported goods worth Rs 4,170 crore in the first quarter of the current fiscal against Rs 1,860 crore during the corresponding period last year (2010-11).
Exports
“Many new units have started production during the current year and therefore the growth rate of 124 per cent is likely to be sustained throughout the financial year.
"As the total SEZ exports in the State during 2010-11 amounted to Rs 13,336 crore, we are projecting a figure of more than Rs 25,000 crore for the current fiscal. I am sure it is a realistic one,” he said.
Mr M.S Rao said that even though the introduction of MAT (minimum alternative tax) had some what dampened the enthusiasm of the investors, still SEZs in Andhra Pradesh were doing very well.
Best package
“Setting up an export-oriented unit in a special economic zone is still the best bet for an exporter and is the best available package. Therefore, there is no reason for too much despondency even after the withdrawal of some of the tax incentives,” he said.
He said there was only one SEZ in Chhattisgarh and none in Yanam (Puducherry). He was also in charge of those two territories. “We are trying to promote SEZs in Chhattisgarh on the Andhra Pradesh model,” he said.
Mr Vinay R. Sharma, Assocham, said the seminar on Thursday would be useful for investors, entrepreneurs and others. Many experts from different fields would participate and dispel misconceptions about SEZs.