India Saw Increases In Its Plastic Exports In December Of 12.7% And January Of 5%. Year-To-Year

India's plastic export patterns for December 2023 and January 2024 were examined in a report released by the Plastic Export Promotion Council (Plexconcil). Based on information from the Indian government's Ministry of Commerce & Industry, in December 2023, India exported plastics valued at USD 1,115 million, a 12.7% rise from USD 989 million in the same month the previous year. India's plastic exports reached USD 916 million in January 2024, up 5.0% from USD 873 million the previous year.

A notable increase in exports was observed in December 2023 in a number of product categories, including flooring, leathercloth & laminates, plastic medical items, FIBC, plastic pipes & fittings, flexible and rigid packaging, consumer & houseware products, plastic films and sheets, plastic raw materials, FRP & Composites, Tarpaulin, woven sacks, woven fabrics and human hair & related products.

Across a broad range of product categories, significant export growth was noted in January 2024: plastic films and sheets plastic raw materials; FIBC, woven sacks, woven fabrics, tarpaulin, floor coverings, leathercloth & laminates, flexible & rigid packing items, FRP & Composites, medical supplies of plastics, plastic pipes & fittings, and human hair & related products. Sectors like monofilame, fishing nets and rope.

The growing impact of India's exports on the world economy is evident in the export increase in December and January, according to a statement by Plexconcil Chairman Hemant Minocha. We have a good indication of the growing demand from international markets during the last two months and we want to maintain this trend until 2024. Our target is to export goods worth USD 25 billion by 2027. We are concentrating on current markets and investigating potential opportunities as part of a multifaceted plan to increase exports. 

The Indian export market saw a range of trends in December 2023 for different product categories. December 2023 saw a notable 139.1% increase in exports of consumer and houseware goods. The main causes of this expansion were increased sales of plastic dinnerware and kitchenware, wallets, handbags and related items, safety equipment and sunglasses.

The US, Europe, and the United Arab Emirates are the main markets for Indian plastic products. Plexconcil, on the other hand, has been arranging buyer-seller and reverse buyer-seller meetings with the backing of Indian embassies and high commissions in order to market India as the ideal sourcing location for plastics, having recognized the potential in Latin America, the CIS, and Africa. Plexconcil made a ground-breaking decision at the end of January 2024 when he led a trip to RUPLASTICA in Moscow, Russia, to investigate a market where plastic imports worth.

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