EOUs exports likely to cross Rs 3,000 crore

Exports from the 100 per cent export oriented units (EOUs) in Andhra Pradesh are expected to cross the Rs 3,000-crore mark during this fiscal.

For the year ended March 31, 2005, 100 per cent EOUs in the state registered a 40 per cent growth in exports as compared to the preceding year.

"In the current year also, we are expecting the same growth in EOUs exports from the state," P Ramesh Kumar, development commissioner, Visakhapatnam Special Economic Zone, and in charge of 100 per cent EOUs in Andhra Pradesh, Chattisgarh and Yanam, told Business Standard.

Last fiscal, about 156 EOUs in the state exported Rs 2,150 crore worth of products. In 2003-04, about 130 EOUs in the state exported Rs 1,530 crore of products including pharmaceuticals, granites and garments.

During last fiscal, the special economic zone issued 66 letters of permission to set up 100 per cent EOUs in the state.

"This year up to the middle of June, we have issued 20 letters of permission. And every month, on an average, we are issuing eight new letters of permission. Most of these new units will start exports this fiscal. Owing to this reason, we are expecting more than Rs 3,000 crore exports from these units during the current fiscal," Ramesh Kumar said.

According to the special economic zone officials, the top three 100 per cent EOUs for the year 2004-05 were: Rain Calcining (Rs 215 crore), Matrix Laboratories (Rs 119 crore) and CCL Products (Rs 111 crore).