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India’s plastics exports grew 31.6 per cent at $4.59 billion during April - September 2018 as against $3.48 billion in same period last year, registering a faster pace of growth than the overall merchandise export growth, according to the Plastics Export Promotion Council (Plexconcil).
During H1 2018-19, the country reported merchandise exports of $164.04 billion, up 12.5 per cent ($145.75 billion).
According to Plexconcil, plastics formed 2.80 per cent of India’s overall merchandise exports in the first half of the current year. The growth in plastics export has been primarily boosted by higher shipment of plastic raw materials, plastic sheet, film, plates, and packaging materials.
During H1 2018-19, 23 out of the top 25 destination countries recorded year-on-year growth in plastics export from India. Exports to China, Vietnam and Mexico witnessed 70-140 per cent, it said in a statement.
Plexconcil chairman Ravish B Kamath said, “In the first half of 2018-19, the trend in plastic exports from India has been very positive with a strong year-on-year growth vis-a-vis 2017-18 with August 2018 topping $800 million and registering 38.1 per cent y-o-y growth.
Plexconcil executive director Sribash Dasmohapatra said, “The Council is confident of surpassing export target of $10.6 billion in 2018-19”.
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