Pithampur SEZ Exports Drop in April-Dec 2024

21 Jan 2025 CW Team

Exports from the multi-product Special Economic Zone (SEZ) in Pithampur declined by 6.53 per cent during April-December 2024 compared to the same period in the previous year, primarily due to sluggish demand driven by the on-going geopolitical crisis, which impacted overseas shipments.

The decline in exports is mainly attributed to reduced demand for pharmaceutical products, which make up a significant portion of the export basket from the SEZ. According to data from the SEZ development commissioner's office, industries in the Pithampur SEZ exported goods worth Rs 97.66 billion during the period from April to December 2024, showing a 6.53 per cent decrease from the previous year.

Gautam Kothari, president of the Pithampur Audhyogik Sangathan, stated that the fall in exports was significantly influenced by the geopolitical crisis. He also noted that the absence of new companies in the SEZ over the past few years had contributed to stagnated growth in the multi-product SEZ.

Kothari expressed hope that exports would improve in the last quarter of the fiscal year, potentially boosting the overall export performance for the financial year 2024-25. For comparison, exports from the SEZ during April-December 2023 had totalled Rs 104.48 billion.

The Pithampur SEZ is home to around 59 industries, including those related to packaging, jumbo bags, agriculture products, and pharmaceuticals, with 22 units from the pharmaceutical sector alone, comprising both large and medium-sized companies.

Indore has six SEZs, with the highest export value coming from the Pithampur SEZ. Total exports from the Pithampur SEZ in the previous fiscal year, 2022-23, were Rs 127.95 billion, as per official data.

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