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The Plastics Export Promotion Council, a non-profit body under the Ministry of Commerce and Industry, plans to tap the West Asian and African markets through the Government’s Market Access Initiative.
The export potential of West Asia for plastics is estimated at $30 billion, while Africa can open up an export opportunity of $16 billion.
Major overseas marketsIndia has set an export target of $9.5 billion (₹57,000 crore) for this fiscal against $7.9 billion shipped last year, accounting for 3 per cent of the country’s total exports of $314 billion.
Of the total plastics exports, polymers accounted for about 36 per cent, while writing instruments, packaging material and woven sacks were the other materials shipped from the country.
The major markets were China, the US and the UAE, accounting for 11 per cent, 10 per cent and 5 per cent, respectively. With a market share of eight per cent, India is the second largest exporter to the UAE.
Global expoChina accounts for 27 per cent of the UAE’s imports and registers annual plastics exports of $92 billion.
The Council is to lead 150 companies from India to participate in Arabplast, a trade event to be held in January.
About 1,100 companies from 45 countries are expected to showcase their wares, including plastic machinery and other production aids such as master batches and additives used in plastic processing.
Rajan Kalyanpur, Executive Director, Plastics Export Promotion Council, said producers of Indian plastic products were dominated by small scale companies who were not able to tap the global market efficiently, as they did not have economies of scale.
“Apart from opening new export avenues, participation in Arabplast would provide exposure to the latest techniques in plastic product manufacturing,” he added.
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