Mihan SEZ Exports Surge 40% in FY 2025-26 Nagpur: Exports from Mihan, India’s largest multi-product special economic zone (SEZ), have surged by nearly 40% during the financial year 2025-26, according to data compiled by the development commissioner’s office under the ministry of commerce. The value of exports for the last fiscal year reached Rs9,626 crore, compared to Rs6,935 crore in the previous fiscal year (2024-25). While manufacturing exports drove the growth, services exports, primarily from the IT sector, saw a minor dip. The SEZ, which has been operational for two decades, reported services exports totaling Rs2,926 crore in 2025-26, down slightly from Rs2,974 crore in 2024-25. The decline was attributed to the IT sector’s performance, though officials noted that the easing of tariffs following an initial hike contributed to the overall export momentum. Manufacturing remained the key driver, with companies like Dassault Reliance Aviation Limited (DRAL) and Tata Advanced Systems Limited (TASL) leading the charge. These firms produce aircraft components, including parts for Dassault’s Falcon business jet and Rafael fighter jets. Lupin Pharma, a major player in the pharmaceutical sector, also contributed significantly to the SEZ’s export growth. Manohar Bhojwani, president of the Mihan Industries Association, highlighted that factors such as the costlier dollar and increased demand in overseas markets fueled the export surge. “The easing of tariffs after an initial hike has also helped push exports,” he said. Bhojwani added that Mihan’s exports include not only software, pharma, and aircraft components but also niger seeds and pulses, underscoring the SEZ’s diverse industrial base.#maharashtra_airport_development_company #mihan_sez #tata_advanced_systems #dassault_reliance_air_aviation #lupin_pharma
Mihan SEZ Exports Surge 40% in FY 2025-26 Exports from Mihan, India’s largest multi-product special economic zone (SEZ), surged nearly 40% during the financial year 2025-26, according to data compiled by the development commissioner’s office under the ministry of commerce. The value of exports reached Rs9,626 crore in the fiscal year, compared to Rs6,935 crore in the previous fiscal year (2024-25). While manufacturing exports drove the growth, services exports, primarily from the IT sector, saw a minor dip. The SEZ, which has been operational for two decades, reported services exports totaling Rs2,926 crore in 2025-26, slightly lower than Rs2,974 crore in 2024-25. The manufacturing sector, however, remained a key contributor, with companies like Dassault Reliance Aviation Limited (DRAL) and Tata Advanced Systems Limited (TASL) leading the charge. These firms produce aircraft components, including parts for Dassault’s Falcon business jet and Rafael fighter jets. Lupin Pharma, a major pharmaceutical player, also established itself as a significant exporter from the zone. Manohar Bhojwani, president of the Mihan Industries Association, attributed the growth to factors such as the costlier dollar and increased demand in overseas markets. He noted that the easing of tariffs after an initial hike further boosted exports. Bhojwani highlighted that Mihan’s export portfolio includes not only software, pharma, and aircraft components but also agricultural products like niger seeds and pulses. The SEZ’s requirement for companies to generate net foreign exchange earnings has pushed firms to prioritize exports. Maharashtra Airport Development Company (MADC), the developer of Mihan, is currently in talks with potential investors to attract new projects.#maharashtra_airport_development_company #mihan_sez #tata_advanced_systems #dassault_reliance_air_aviation #lupin_pharma
Project-hit Entrepreneur Returns to Mihan as Aerospace Investor Twenty-five years ago, the Maharashtra government acquired Hemant Bhave’s land at Khapri, where he operated a small engineering unit. Bhave, who founded Bhagyashree Home Appliances as a 28-year-old in the 1980s, was forced to relocate when the government seized his property. He described the experience as shocking, noting the compensation offered was insufficient to compensate for his losses. Despite the upheaval, Bhave has returned to the area as an aerospace investor, now operating within one of India’s largest special economic zones (SEZs)—Mihan. His company, Bhagyashree Home Appliances, is establishing a 2.5-acre plant to manufacture aircraft components for two prominent SEZ-based firms: Dassault Reliance Aviation Limited (DRAL) and Tata Advanced Systems Limited (TASL). DRAL is set to produce the Falcon business jet, India’s first commercial aircraft to be manufactured domestically from Mihan, and supplies spares for Rafale fighter jets. TASL, meanwhile, serves aviation giants like Boeing and Airbus. Beyond the SEZ, Bhave’s company also supplies sheet metal parts for Su-30 fighter jets to Hindustan Aeronautics Limited (HAL) and provided critical components for the Chandrayaan mission to ISRO. Bhave retained the “Home Appliances” suffix in his company’s name, a nod to his early invention—a device that measured cooking gas in a cylinder, enabling consumers to order refills in advance. The transition to aerospace was not immediate. After the land acquisition, Bhave and his family were uprooted, with no choice but to relocate to MIDC’s Hingna industrial estate. His son, Prasad, who earned a degree in aerospace engineering by 2012, played a pivotal role in steering the company toward aviation.#hemant_bhave #bhagyashree_home_appliances #mihan_sez #dassault_reliance_aircraft #tata_advanced_systems
