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Plexconcil to hold India’s 1st export-focused & Plastic international trade

India emerges as the global sourcing hub, the Government-promoted Plastics Export Promotion Council (PLEXCONCIL)

MUMBAI, 22nd December 2022: As India emerges as the global sourcing hub, the Government-promoted Plastics Export Promotion Council (PLEXCONCIL) will organize the country’s first-ever export-focused trade fair for the plastic industry from 15-17 June 2023 in Mumbai.

“India currently exports plastics to over 200 countries, and due to the changing business paradigm, we see a major opportunity for boosting the opportunities in developed economies as well as emerging markets for the industry,” said Hemant Minocha, Chairman of PLEXCONCIL. 

With disruption in supply chains, global economic cooperation continues to reduce dependency on traditional sourcing destinations. India, thus, has emerged as a leading sourcing hub for numerous products, including plastics products, Minocha pointed out.

In this context, the exhibition PLEXCONNECT, to be held at the Bombay Exhibition Centre (NESCO), Goregaon, from June 15 to 17, assumes significance.

The global export market of all plastics products is valued at USD 1.2 trillion, in which India’s share is about 1.1%. “This is where the Indian plastic industry has a lot of ground to cover even as we attract the global majors to source from and invest in India, as envisaged by the Prime Minister,” said Ravish Kamath, Chairman-Plexconnect 2023.

For over six decades, Plexconcil, with active support from the Ministry of Commerce and Industry, has been driving and accelerating the export growth of the Indian Plastics industry, he said.

Now, the Council intends to bring a larger number of the industry players, MSMEs in particular, into the exporter fraternity and help them grow with the economy, Kamath said.

The Government has been focusing on renegotiating and fast-tracking Free Trade Agreements (FTAs) with numerous countries, including the UK, Canada, EU, and so on. India has recently concluded its trade agreement with UAE under CEPA & Australia under ECTA. Plus, there are several Government schemes and subsidies from the MSME Ministry, Ministry of Commerce, etc., to facilitate and promote exports. “PLEXCONCIL is keen that the MSMEs take full advantage of these, Sribash Dasmohapatra, Executive Director of Plexconcil, said.

He explained that PLEXCONNECT 2023 will be a unique platform designed to bring the global plastics fraternity and allied industries under one roof and showcase the prowess of the Indian Plastics Processing Industry.

The expo will attract top machinery manufacturers from India as well as countries such as Germany and Italy, as well as showcase live machine demos, recycling technologies, technical seminars, and more which will provide an excellent opportunity for the indigenous industry, he said. A Reverse Buyer Seller Meet will also be held where 600 unique select buyers from 115 countries source their requirements from India.

India’s plastics export has been growing at a CAGR of 12%, and PLEXCONCIL plans to double exports to reach USD 25 billion by 2025. India currently exports to over 200 countries globally, including China, the US, UAE, Bangladesh, Nepal, UK, Turkey, Germany, Italy, and the Netherlands.

ABOUT PLEXCONCIL

The Plastics Export Promotion Council (PLEXCONCIL) – which acts as a bridge between the Industry and the Government – was established by the Ministry of Commerce & Industry, Department of Commerce, Government of India on 15th July, 1955, as a non-profit organisation. It was one of several Export Promotion Councils (EPCs) launched by the Government to project India’s image abroad as a reliable supplier of high-quality products in order to give a boost to the country’s exports.
PLEXCONCIL is the apex body of the plastics industry in India and represents over 2,500 exporters who manufacture/export plastics products ranging from raw plastics materials to semi-finished and finished items. The Council has its headquarters in Mumbai, and regional offices in New Delhi, Kolkata, Chennai and Ahmedabad,  

This article was shared with Prittle Prattle News as a Press Release.

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