SEZ exports rise 30% in a year riding IT and pharma boom | Indore News - Times of India

SEZ exports rise 30% in a year riding IT and pharma boom | Indore News - Times of India

Posted : 16 Apr 2019 | By : DCNPL

INDORE: Exports from Special Economic Zone (SEZ) registered a record growth of close to 30 per cent in 2018/19 driven by information technology and pharmaceutical companies.

In last fiscal, exports surged to Rs 9,450 crore — up by 29 per cent from a year ago — data released by development commissioner SEZ showed.

New entrants to IT sector — TCS and Infosys — performed well in last fiscal and contributed in export basket in earning foreign exchange.

Pharmaceutical and automobile industries also fared well last year owing to increase in overseas trade.

Madhya Pradesh Industry Development Corporation (MPIDC) Indore head Kumar Purushottam said, "Export growth is quite impressive and new units are regularly coming in the region. IT sector has performed very well last fiscal and is likely to continue growing."

There are five operational SEZ in region with 4 IT SEZ while one at Pithampur is a multi-product zone. Amongst all IT SEZ, Crystal IT Park recorded highest export of Rs 334 crore — up by 35 per cent from a year ago —data showed. There are 14 units operational from Crystal IT Park. Purushottam said, "In coming year, export is expected to jump further because many new units are likely to be operational. Construction work for many is on the verge of completion and many may soon start production."

Buoyed by success of Crystal IT Park in Indore, industry department has come up with a second IT Park on the same campus to invite more IT companies. The multi-product Pithampur SEZ has 49 registered industries of which 42 are currently operational. This zone houses some giant pharmaceutical, automobile and packaging firms.

Source :
https://timesofindia.indiatimes.com/city/indore/sez-exports-rise-30-in-a-yr-riding-it-and-pharma-boom/articleshow/68896484.cms