From last year to this year, India's plastic export numbers have increased by roughly 55 percent. Plastic shipments increased by more than 60% in the month of June alone.
In the previous year, exports of plastic and products totaled $10 billion.
“Exports are going well,” said Arvind Goenka, Vice Chairman of the Plastics Export Promotion Council of India, “and the reason is China plus one strategy,” which global buyers embraced after the COVID crisis.
Plastics, according to Goenka, have played a critical part in the epidemic due to their widespread use in medical supplies and packaging. He cited the reasons for the development in plastics by saying, "Exports of those have also surged."
“The plastic value-added items are largely moving to developed markets like the United States or the European Union, and the present treaty negotiations with the United Kingdom and the EU will undoubtedly help us,” he said.