Special Economic Zones (SEZs) act as powerful catalysts for India’s export growth and foreign exchange earnings, besides driving industrialisation, attracting investments, and generating employment, said Visakhapatnam Special Economic Zone (VSEZ) Development Commissioner M. Srinivas on Friday.
Addressing an interactive session organised by the Public Relations Society of India (PRSI), Visakhapatnam chapter, Mr. Srinivas highlighted that investor-friendly policies and world-class infrastructure transformed SEZs into globally competitive manufacturing and export hubs. He noted that the enactment of the SEZ Act in 2005 successfully transitioned the regime from Export Processing Zones (EPZs) into robust SEZs, fostering an ideal ecosystem for export-oriented industries.
VSEZ Customs Deputy Commissioner Vinay Mallipudi emphasised that SEZs function as globally competitive, duty-free enclaves, treated as foreign territory for trade and customs operations. He explained that simplified procedures and regulatory compliance drive the core objectives of the SEZ policy: promoting exports, attracting investments, boosting employment, and building world-class infrastructure.
Furthermore, Mr. Mallipudi underlined the profound social impact of SEZs, stating that they create diverse job opportunities, accelerate regional development, upgrade infrastructure, and drive socio-economic growth in surrounding communities. PRSI members, industry representatives, and key stakeholders attended the session
Published – July 25, 2026 12:08 am IST
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