Sri City SEZ and its units bag EPCES awards

Sri City, September 25, 2021: In the Export Promotion Council for EOUs and SEZs (EPCES) awards function held on Friday in Visakhapatnam for the Special Economic Zones (SEZs) and Export Oriented Units (EOUs) operational under the jurisdiction of Visakhapatnam Special Economic Zone (VSEZ), spread over AP, Telangana, and Chattisgarh, Sri City SEZ and five of its units received awards from the Secretary of Commerce to the government of India Dr. B.V.R. Subrahmanyam. The Sricity SEZ was awarded Developers Special Achievement Award for 2020-2021 under SEZ Category, for its great contribution to regional industrial growth, and Ramesh Subramaniam, President, Sri City Foundation received it from the Commerce Secretary. Sri City SEZ units, viz., Siddhartha Logistics FTWZ, MIMCO DFS India, Everton Tea, Storeit Services LLP and Vital Paper Products bagged the highest exports awards in different categories, and the respective MDs received them. (Details of the exports of these units were shown in the table given at the end of this report).

Addressing the awardees, the Secretary of Commerce appealed to developers and units of VSEZ that the growth should be comparable with the world countries, and the government is facilitating the units utilising their unutilised capacities to be sold in domestic markets after giving some concessions. Speaking on the occasion, A. R. M. Reddy, Development Commissioner, VSEZ gave the details of the exports from VSEZ units during the last and current financial years.

Expressing happiness for bagging the ‘Developers Special Achievement Award’, Ravindra Sannareddy, Founder Managing Director, Sri City said, “We feel honoured for being conferred the accolade in recognition of our commitment for developing the backward region in the state, into a vibrant economic zone.” Congratulating the MDs of all the five units of Sri City SEZ for achieving the best exports performance awards, he said, the overall exports performance of Sri City SEZ is appreciable. “It emerged as the 3rd largest SEZ among the top 50 non-IT SEZs in the country for the Financial Year 2019-20, with a total turnover of Rs. 38,355 cr., It achieved a cumulative export of goods and services of Rs 18,000 crore till July 2021, and the merchandise and service export for the year 2020-21 was Rs 5,211 crore, as against Rs. 4,101 crore for 2019-20, recording a growth rate of 27 percent, in spite of the pandemic situation,” he added.

In the above function, altogether 67 awards were presented to the achievers from the industrial units and developers for commendable exports, highest employment generation, highest single area in a location, both under SEZs and EoU category for their performance during 2019-20 and 2021-22.