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Business Economy


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

Hyderabad, Oct 30 (UNI) The Plastics Export Promotion Council of India (PLEXCONCIL), the apex trade body for plastics exports sponsored by the Union Ministry of Commerce & Industry, has unveiled plans to target plastics’ exports of USD 25 billion by 2025 while posting 20 per cent growth in plastics exports during FY21 and FY22.
Backed by strong government support-planned investment of USD 6.2 mn and 18 plastic parks being set up to boost domestic production, employment and achieve environmentally sustainable growth. PLEXCONCIL has mapped out 50 value-added plastic products in which India has a good standing and can easily expand its presence to other geographies.
PLEXCONCIL identified products for Atmanirbhar Bharat are: PVC Films; Petrochemicals - Styrene Monomer, Maleic Anhydride, Propylene Glycol Titanium Dioxide; Plastic films Nylon High Tenacity UV Yarn. PLEXCONCIL is in the process of identifying the champion sectors.
PLEXCONCIL has been organising virtual Interactive Sessions, Seminars with the manufacturers / exporters / related associations & organisations along with the State Governments to create awareness and to provide necessary assistance to exporters/manufacturers.
The PLEXCONCIL mobile app has been unveiled for plastic exporter members and trade fraternity.
On the occasion, PLEXCONCIL Chairman Mr. Ravish Kamath, said,“Plastic exporters have to be given the option to continue with MEIS or with RoDTEP and the RoDTEP rates should be fixed liberally to help them compete internationally. PLEXCONCIL has been requesting the Government to appoint a Shipping Regulator body for a long time. Free Trade Agreements need to be Renegotiated for Plastic goods especially with major export destinations such as Europe (which accounts for 24% of India’s plastics exports), North America (16%) and WANA region (14%) amongst others.”
Mr. Arvind Goenka, Vice Chairman, PLEXCONCIL, said the PLEXCONCIL has approached three organisations to help build an export strategy for plastics with an objective to increase exports namely IIFT, New Delhi, IIM Ahmedabad and EXIM Bank of India.
PLEXCONCIL is targeting higher exports to Australia, Brazil, China, Germany, Indonesia, Israel, Italy, Kenya, Malaysia, Netherlands, Nigeria, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Thailand and Turkey with details of potential products, said Goneka.
Mr. Sribash Dasmohapatra, Executive Director , PLEXCONCIL, said, “During the first half of 2020-21, India exported plastics worth USD 4.77 billion witnessed a fast recovery post lockdown and recorded a positive growth of 7.9 per cent in September 2020.
India has 2,000+ exporters across the country - 15 large industrial groups in polymer manufacturing, 30,000 plastic processors, 7,500 units in recycling, Packaging, infrastructure, industrial sectors agriculture, textile fibers, electronics and automotive amongst others.
PLEXCONCIL Members suggested that the Government should reduce the lead time for refunds (MEIS / GST) for exporters and also reinstate GSP.
As India is import dependent on polymers, import shipments are not getting loaded at ports in Europe, USA & NEA for India leading to an unprecedented hike in polymer prices -specially for PVC, the Council said.
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