PLEXCONCIL targeting shipments worth $25 billion by 2025

 Plastic export promotion council PLEXCONCIL said it expects positive growth in the sector's outbound shipments in the coming months on the back of global demand and government support to boost local production and looks to achieve exports of USD 25 billion by 2025. Plastics Exports Promotion Council of India (PLEXCONCIL) Chairman Ravish Kamath said that exports recorded positive growth in September, "so we expect this trend to continue and plastics exports will post much better results. The council intends to target plastics' exports of USD 25 billion by calendar year 2025, while posting 20 per cent growth in the exports during this fiscal and next". He added that the government is supporting to increase domestic production by setting up of 18 plastic parks. Talking about challenges faced by the sector, he told PTI that finished goods are waiting in factories and cannot be exported due to shortage of containers, which is leading to expiry of LC's (letter of credit) and breaching of delivery schedules.  As India is import dependent on polymers, import shipments are not getting loaded at ports in Europe, and the US for India due to which a panic situation has arisen doubting the availability of raw materials on time," he said. This has led to an unprecedented hike in polymer prices, especially for PVC Resin wherein India produces only 45 per cent of its mammoth consumption, he added.

 
Kamath suggested the government to continue with the export incentive scheme - MEIS (merchandise export from India scheme) and fixation of liberal refund rates for the sector under RoDTEP (Remission of Duties or Taxes on Export Product (RoDTEP). He also stated that availability of polymers at competitive prices in India is a challenge for the sector boosting its domestic production would help adequate availability of polymers in the country at competitive rates. India's plastics are mainly exported to Europe (24 per cent), North America (16 per cent) and WANA region (14per cent). 
 
 
India does not have trade agreements with any of these regions / countries in order to keep our exporters from competing. If the government can forge a trade agreement with these regions / countries, our exporters would be able to increase exports," he said. Plastic and linoleum exports grew by about 7 per cent year on year to USD 634 million in September. During April-September this ficsal, the exports dipped by 4.25 per cent to USD 3.8 billion.

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