5-year plan unveiled by PLEXCONCIL to target USD 25 bn of plastics exports by 2025

The Plastics Export Promotion Council of India (PLEXCONCIL), the apex trade body for plastics exports funded by the Union Ministry of Commerce and Industry, Government of India, has announced plans to increase plastics exports by 20% in FY21 and FY22, with a target of USD 25 billion by calendar year 2025.

Planned investment of USD 6.2 million and the establishment of 18 plastic parks are backed by strong government support in order to improve domestic demand, jobs and achieve environmentally sustainable growth. PLEXCONCIL has identified 50 value-added plastic products in which India has a strong position and can easily grow into new markets. PVC Films; Petrochemicals - Styrene Monomer, Maleic Anhydride, Propylene Glycol Titanium Dioxide; Plastic films Nylon High Tenacity UV Yarn are among the items found by PLEXCONCIL for Atmanirbhar Bharat. The champion sectors are being defined by PLEXCONCIL.
 
PLEXCONCIL has been hosting virtual Interactive Sessions, Seminars, and other events with manufacturers, exporters, and related groups and organisations, as well as state governments, to raise awareness and provide needed assistance to exporters and manufacturers. For plastic exporter representatives and the trade community, the PLEXCONCIL mobile app has been launched.
 
“India is well placed as a main plastic manufacturing base for companies dependent on global supply chains in a rapidly changing world trade scenario,” said Mr. Ravish Kamath, Chairman, PLEXCONCIL's r ecent policy announcements made during the lockdown and unlock phases highlight the Indian government's commitment to domestic manufacturing and new opportunities. In recent years, India has implemented a number of business-friendly reforms to improve the ease of doing business. There are many options for incorporating India into the supply chain, including 100 percent owned manufacturing, manufacturing through joint ventures, and contract manufacturing. India needs to increase domestic polymer production to the point that there is a surplus quantity available within the nation, allowing polymers to be purchased at competitive prices.”
 
“Plastic exporters must be given the option to proceed with MEIS or with RoDTEP, and the RoDTEP prices should be set liberally to help them complete internationally,” Mr. Kamath says of additional government funding. Since a long time, PLEXCONCIL has been urging the government to name a Shipping Regulator. Free Trade Agreements for plastic products must be renegotiated, especially with major export destinations such as Europe (which accounts for 24% of India's plastics exports), North America (16%), and the WANA region (14%).”
 
“PLEXCONCIL is in the advanced stages of conducting a B2B meeting with buyers focused in the leading international markets such as the US, Egypt, Japan, Korea, and Vietnam,” said Mr. Arvind Goenka, Vice Chairman, PLEXCONCIL. We plan to hold at least ten virtual B2B meetings with international buyers. PLEXCONCIL has also sent letters to Indian embassies and high commissions.  The PLEXCONCIL has approached three organisations, namely the IIFT in New Delhi, IIM Ahmedabad, and the EXIM Bank of India, to assist in the creation of a plastics export strategy with the aim of increasing exports.”
 
With specifics of potential goods, PLEXCONCIL is targeting increased exports to Australia, Brazil, China, Germany, Indonesia, Israel, Italy, Kenya, Malaysia, Netherlands, Nigeria, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Thailand, and Turkey.
 
Mr. Sribash Dasmohapatra, ED, PLEXCONCIL, said, "India exported plastics worth USD 4.77 billion in the first half of 2020-21, demonstrating a rapid recovery following the lockdown and recording a positive growth of 7.9% in September 2020." Exports of some commodity panels, such as raw materials, polyester films, and human hair, increased in the first half of 2020-21. The remaining panels, especially Consumer & Houseware; Writing instruments; Woven sacks / FIBCs; Floor coverings, leather cloth & laminates, are expected to pick up in the second half of FY21.”

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