Exports from Indore SEZ cross Rs 947-crore mark.

Indore, Oct 8 (PTI) Exports from the Indore Special Economic Zone (SEZ) have crossed Rs 947 crores in the first half of the current financial year, as compared to Rs 750 crores during the same period of the previous year, marking a growth of more than 25 per cent.

The zone''s total turnover in the first six months of current financial year is Rs 1,387 crores as compared to Rs 1,217 crores during the corresponding period in the previous year, showing a growth of nearly 14 per cent, its development commissioner A K Rathore told reporters here today.

The Indore SEZ has shown considerable growth in exports in 2011-12, and is exhibiting positive growth trend in the current year. In the year 2011-12, exports were to the tune of Rs 1637 crores, compared to Rs 1242 crores during the previous year, Rathore said.

Rathore also stated that in the current year Crystal IT Park, Indore has also became operational and it is the second operational SEZ in MP after Indore SEZ at Pithampur.

At present, three units are functional in this zone and total export from the Crystal IT Park in the current year is to the tune of Rs 1.48 crore.

He said that the Indore SEZ is becoming the preferred destination for the pharma sector and in the past few months, two major pharma companies have been granted letters of permission to set up units in Indore SEZ.

M/s Mylan Laboratories Ltd plans to invest more than Rs 600 crores and employ upto 1000 people in the zone to manufacture formulation products, whereas M/s Teva API India Ltd plans to invest Rs 872.50 crores and employ 560 people to manufacture active pharmaceutical ingredients.

Source : news.in.msn.com