Hyderabad: Notwithstanding the economic slowdown and ripple effect, IT and ITES companies and pharma firms in Telangana and neighbouring Andhra Pradesh have done exceptionally well in terms of exports in this financial year. It is estimated that exports of IT special economic zones (SEZs) in Telangana is worth Rs 70,000 crore.
The growth rate recorded by Visakhapatnam SEZ, consisting of SEZs of all merchandise and services in Telangana, AP and Chhattisgarh, is 37% — which is highest in the country. VSEZ has already overtaken SEZs in Kolkata, Chennai, Kochi and Mumbai. In what could gladden the industry experts, the SEZ authorities have scotched rumours that IT units were moving out of AP. “In fact, Telangana has shown the way ahead with some of the ITES units from Bengaluru shifting to Hyderabad,” the authorities said.
Telangana has 33 SEZs, AP has 21 and Chhattisgarh has one SEZ.
VSEZ development commissioner A Ram Mohan Reddy told STOI that they achieved the highest growth rate despite the economic recession. “When compared to Rs 63,924 crore exports in the last financial year, our overall exports of Rs 89,748 crore till February 27 this financial year tells you the story,” he said.
Ram Mohan ruled out any unit from Andhra, Telangana and Chhattisgarh moving out of SEZs. “We do not know about other SEZs. But, there is no migration of units from AP to Telangana. In the last 10 months, we have 86 new units making an entry. They are investing Rs 7,935 crore in the next five years in three states,” he said.
Telangana has 292 units currently. “Hyderabad is adding four units every month. On February 19, approval for 10 units was accorded by VSEZ Hyderabad sub-office,” he said. The units are coming up in private SEZs like Phoenix Infocity Private Ltd, Divija Commercial Properties, BSR Builders, Sundew Properties, Laxmi Infobahn Private Limited and NSL.-Times Of India