Pharmaceutical Export Decline: Indore SEZ Faces Setbacks

Exports from Indore Special Economic Zone (SEZ) in Madhya Pradesh fell by 9.25% last year due to decreased pharmaceutical shipments. With the US as a key importer, the region grappled with hurdles from the USFDA and international order drops. Nonetheless, recovery expectations persist for the future.

In a significant economic turn, exports from the Indore Special Economic Zone (SEZ) in Madhya Pradesh dipped by 9.25% in the last fiscal year, largely attributed to a slump in pharmaceutical shipments.

According to an official from the Union Ministry of Commerce and Industry, the financial year 2023-24 reported exports worth Rs 14,265.63 crore from the Indore SEZ. Pharmaceuticals represent approximately 70% of these shipments, with the United States positioned as a primary importer.

The export challenges for the fiscal year 2024-25 were compounded by issues related to obtaining USFDA approval for some major drug manufacturing products in the SEZ. The dip in international orders added to the strain. Despite these hurdles, optimism remains due to the diverse industrial base hosting 59 plants, including 22 pharmaceutical units.

(With inputs from agencies.)