Exports from multi-product Special Economic Zone (SEZ) in Pithampur grew by 11 per cent in 2023-24 as against the previous year owing to robust growth in the overseas demand for engineering goods and pharmaceuticals.
Industries of Pithampur exported goods worth Rs 14,265 crore during April 2023 to March 2024, up 11.5 per cent from the previous year, data from the SEZ Development Commissioner’s office showed.
Suvidh Shah, development commissioner, Special Economic Zone, “Exports from the industries of Madhya Pradesh have jumped as compared to the last year due to good demand from the international market. Most of the increase in exports is led by engineering, pharmaceutical and technical textile segments. Exports from the state are expected to remain higher in the coming year as well amid a conducive industrial environment and encouraging overseas demand.”
In the year 2022-23, exports from the multi-product SEZ of Pithampur was Rs 12,795 crore .
Exports from the packaging industries also increased in the last fiscal, said industries.
Around 58 industries related to packaging, jumbo bags, agriculture products and pharmaceutical firms operate from the Pithampur SEZ.
Dinesh Mishra, a senior executive at a packaging industry in SEZ Pithampur said, “Export demand is good from our traditional buyers and we are also exploring new markets to expand our reach. Our exports have gone up year-on-year and to tap more destinations and expand our production line, our company is expanding operations in the state.”
Exports of computer software and services from IT companies operating from the five SEZ’s in Indore in FY 2024 stood at Rs 3,782 crore, up by 27.4 crore from the last financial year, official data showed.