The Hindu Business Line : Exports from MEPZ up 40 pc to Rs 1,901 cr

Top draw
The value of imports made by all units in MEPZ-SEZ was Rs 918.13 crore
Export at Rs 1,901 crore reflects a value addition of 107 per cent.

A FILE photo of Madras Export Processing Zone

Chennai , April 30

Exports from the Madras Export Processing Zone Special Economic Zone (MEPZ-SEZ) grew by 40 per cent to Rs 1,901 crore during 2005-06 compared to Rs 1,377 crore in the previous fiscal.

Electronics (hardware and software), engineering and textiles contributed significantly to the growth by registering a growth of 34 per cent, 46 per cent and 25 per cent respectively.

The electronics sector registered export of Rs 529.15 crore (Rs 394.79 crore), engineering Rs 516.63 crore (Rs 354.40 crore) and textile Rs 405 crore (Rs 326.51 crore), according to MEPZ source.

MEPZ was established in 1984 with the objective of promoting foreign direct investment, enhancing foreign exchange earnings, and creating greater employment opportunities.

The zone was converted into a Special Economic Zone on January 1, 2003. The multi-product zone currently has over 100 functional units.

The value of imports made by all units in MEPZ-SEZ during 2005-06 was Rs 918.13 crore whereas export was Rs 1,901 crore, which reflects a value addition of 107 per cent, the source said.

The source said two private SEZs — Mahindra World City and Nokia — became operational during the last financial year.

Mahindra World City SEZ shown exports of nearly Rs 75 crore in the last financial year and Nokia SEZ started its commercial production in March 2006.

Nine units inside MEPZ-SEZ, located on the southern outskirts of Chennai, exported goods and services worth more than Rs 50 crore in the last financial year. The contribution of these nine units to the total exports of MEPZ-SEZ for the last year was 63 per cent.

The nine units are Covansys, Celebrity Fashions, Igarashi Motors, Venture Lighting, Venture Power Systems, Celetronix, Linea Fashions, Graziella Shoes and Avalon Technologies.

Infosys, a unit in the Mahindra World City SEZ, registered exports of Rs 70.78 crore during 2005-06, the source said.

More Stories on : Exports & Imports | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page