Indore: Demonetisation has no impact on production in Pithampur SEZ. If the figures of exports and power consumption by 61 Industrial units in Pithampur SEZ during November, December and January are to be believed, then there is no impact of demonetisation on industries. The SEZ has registered an export growth of 100% while the power consumption is up by 40% during the three months.
Export figures from country’s only green field multi-product SEZ depict strong rise in exports. According to official data, exports rose by 149% in November, in December it was 47.24% and in January the export from this SEZ stood at 16.87%. Though there is no consistency in export figures, it shows that the demonetisation has little impact on industrial growth in Pithampur SEZ. However, cumulative export growth from April 1, 2016 to January 2017 is 48.46% which higher than April 1, 2015 to January 2016 exports.
“A substantial growth in exports is being registered from Pithamapur SEZ in Months of November, December 2016 and January 2017 compared to same duration of previous year.”
“We have registered cumulative 40% rise in demand of power in SEZ in the period and have received further demand of 10 MW.”
Power Consumption also went up
Cumulative power consumption of units located in Pithampur SEZ has also been increased by 40% in November, December 2016 and January 2017. According to officials figures of AKVN Indore, the power distribution agency for SEZ units, demand for power have gone up by 35%. AKVN has received demand for another 10 MW power from the units. Importantly, from 2003 the AKVN is supplying power to units @ Rs 2.50 per units, lower than the tariff of Pashim Kshetra Vidhut Vitran Company.
Pithamapur SEZ at a glance
Pithampur (Indore) SEZ was notified prior to the enactment of the SEZ Act 2005 and became operational wef 15.08.2003. This SEZ is the only green field multi-product SEZ of India as on date and is spread over an area of more than 1100 hectares of land in Phase I & II. Over 61 Industries of various sectors such as plastic, engineering, pharmaceutical, metal, textile & food processing, etc are located in the Zone. The unique feature of the SEZ scheme is that a SEZ is considered to be foreign territory for the purpose of trade operations, duties and tariffs. Supplies of goods and services into SEZ from Domestic Tariff Area (DTA) are treated as exports and goods & services coming from SEZ into DTA are to be treated as if these are being imported.