You are here: Home » Companies » News
Business Standard

Nokia exports touch Rs 1650 cr

BS Reporter  |  Chennai 

Nokia India has seen exports from its telecom special economic zone (SEZ) at Sriperumbudur near Chennai reach Rs 1,650 crore in 2006-07, according to figures provided by the Madras Exports Processing Zone.
Total turnover of the Nokia facility, including sales classified under the domestic tariff area (DTA), during the year touched Rs 6,118 crore.
Nokia is the first major telecom company to set up manufacturing operations in India for mobile devices and network infrastructure. It is also the first SEZ set up under the SEZ Act of 2004 to have a dedicated DTA to facilitate domestic sales.
According to a Nokia statement, the park has the potential to employ 20,000 people by 2008. The facility was formally inaugurated in March 2006 and is Nokia's 15th production facility globally. The unit has produced more than 25 million handsets in the first year of its operations with 20 per cent being exported to 10 south-east Asian countries along with countries in Middle East and Africa.
Meanwhile, the Madras Exports Processing Zone (MEPZ), has registered 29.5 per cent jump in export figures for the year ended March 31, 2007. The 120 units situated within the MEPZ premises, which were started on a total investment of Rs 671.67 crore, contributed a total export turnover of Rs 2,462 crore in 2006-07, from Rs 1,901 crore in 2005-06.
Of the 120 units within the MEPZ, 114 are SME manufacturing units employing nearly 20,000. The MEPZ is spread over 265 acres and has over 26,000 employees.
The manufacturing sector in MEPZ accounted for 70 per cent of the export turnover in fiscal 2007, with the rest 30 per cent being accounted for by the IT, gem and jewellery and trading sectors, MEPZ said in a statement.
MEPZ' total imports for the year touched Rs 1,201 crore, against exports of Rs 2,462 crore, reflecting an NFE of 104 per cent. Electronic and software exports out of the MEPZ SEZ increased 20 per cent in fiscal 2007 to Rs 633.99 crore from Rs 529.15 crore in fiscal 2006. Engineering and industry exports contributed Rs 677.27 crore, the largest share of the exports pie at 27.5 per cent. Special Economic Zones (SEZs) set up by Nokia, ETL, Flextronics and Mahindra World City, which fall with the MEPZ's purview, invested Rs 1,561.19 crore at the end of March 31, 2007 and accounted for exports of Rs 2,437 crore.

First Published: Mon, June 04 2007. 00:00 IST