Pithampur SEZ Exports Drop in April-Dec 2024
ECONOMY & POLICY

Pithampur SEZ Exports Drop in April-Dec 2024

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.

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.

Next Story
Infrastructure Urban

CRCL, IIT Delhi Sign MoU to Boost Science and Ease of Business

The Central Revenues Control Laboratory (CRCL), Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, and the Indian Institute of Technology (IIT) Delhi signed a Memorandum of Understanding (MoU) toward trade facilitation and improving the ease of doing business. This MoU collaboration aims to foster R&D, innovation, and scientific excellence at CRCL, bolstering trade facilitation and regulatory efficiency.The MoU was signed by Prof. Rangan Banerjee, Director, IIT Delhi, and Shri V. Suresh, Director, CRCL, in presence of Shri Surjit Bhujabal, Speci..

Next Story
Infrastructure Urban

CAQM Sub-Committee Activates 27-Point Plan to Improve NCR Air Quality

The daily average AQI of Delhi has been hovering marginally above 200 threshold with forecast of slight improvement since last two days. Today, Delhi’s daily average Air Quality Index (AQI) clocked 213 (‘Poor’ category), as per the daily AQI Bulletin provided by the Central Pollution Control Board (CPCB), owing to variable winds. In wake of the average/ overall air quality of Delhi recording ‘Poor’ air quality category ranging between 201-300, the CAQM Sub-Committee on GRAP met today to take stock of the current air quality scenario of Delhi-NCR. While comprehensively reviewing the a..

Next Story
Infrastructure Urban

DoT Launches Financial Fraud Risk Indicator to Boost Cybersecurity

In a major step towards combating cyber fraud and financial crime, the Department of Telecommunications (DoT) has announced sharing of “Financial Fraud Risk Indicator (FRI)” with stakeholders- an output from a multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention. This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool when digital payment is proposed to be made to such numbers.What is the “Financial ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?