With its inception, Plexconnect 2023 held in Mumbai in June generated USD 16.1 million worth inquiries, and finalised deals worth USD 5.3 million. The Plastics Export Promotion Council (Plexconcil) will organise Plexconnect 2024 from 7 to 9 June 2024 in Mumbai.
Plexconcil organised India’s first ever international plastics export exhibition, Plexconnect 2023, which was held from 14-17 June at Nesco, Mumbai. The three-day event with 400 international buyers from across 51 countries generated a profit of over 5 million, boosting MSMEs exports..
The second edition, Plexconnect 2024 will transpire from 7 to 9 June 2024 at Hall 2 and 3 of Bombay Exhibition Centre (BEC); and expects 25,000 trade visitors, 900 international buyers from over 100 countries.
Describing the plastics industry as one of the robust growing sectors, Union Minister of State for Commerce, Anupriya Patel said that India has emerged as a major hub for the world to source their requirements. Speaking at the inaugural, Patel expressed the confidence that the country would achieve the target of two billion-dollar exports as the nation turns into a five trillion-dollar economy.
“Plexconnect 2023 was a great success for the plastics industry despite being our maiden venture. Our own international scale trade fair for plastics exports, generated business inquiries valued at over USD 16.1 million, while deals valued at about USD 5.3 million were finalised during the three days. Several foreign country delegations expressed their interest in continuing their business with India and the exhibition received international interest with over 80 Indian embassies and high commissions promoting the exhibition,” said Hemant Minocha, chairman, Plexconcil.
At Plexconnect 2023, more than 25 companies from Telangana, Tamil Nadu, and Madhya Pradesh participated under the state pavilions. 400 buyers from 51 other nations participated at the RBSM and 4,161 business meetings were held.
Sribash Dasmohapatra, executive director, Plexconcil said, “The upcoming edition is poised to welcome 900 international buyers from above 100 countries, 25,000 trade visitors and cover 20,000 sqm space”.
Over the past decade, India’s plastics exports have witnessed growth to USD 12 billion at a CAGR of 4.8% in FY 2022-23, and eyes to reach USD 25 billion by 2027.
The global plastics trade is a USD 1.1 trillion market and global plastic production has been growing at a rate of 8.2% per annum since 1950. CIM Piyush Goyal says that the Indian plastic sector still has a lot of territory to cover even as we entice global giants to source from and invest in India,”said Dhruv Sayani, convener, Plexconnect 2024 sub-committee.
Through the second edition, the Council intends to bring MSMEs in particular, into the exporter fraternity and help them expand their global footprint. “We expect much greater participation and further aim to bring unique buyers in the second edition as well to ensure wider benefit to our member exporters,” concluded Dasmohapatra.