Plexconcil says, India exported plastics worth USD 933 million in October

Plexconcil's report about India's plastics export trends for October 2023 indicates a surge for plastic products. The Plexconcil study which is based on data from the Ministry of Commerce & Industry, Government of India states, there is a 18.1% surge in packaging items (flexible and rigid) exports.

24 Nov 2023 | By Aditya Ghosalkar

Sribash Dasmohapatra of Plexconcil: The cumulative value of plastics export during April 2023 to October 2023 was USD 6,513 million

The Plexconcil report for October 2023 says India exported plastics worth USD 933 million, higher by 9.4% from USD 852 million in October 2022. The cumulative value of plastics export from April 2023 to October 2023 was USD 6,513 million as against USD 7,232 million during the same period last year, registering a decline of 9.9%.

Sribash Dasmohapatra, the executive director, at Plexconcil, said, "We are pleased to see a positive movement in exports of most of the product segments in October. We hope that this trend continues into the next few months, and we are able to achieve overall growth despite the dampening performance in the past six months." 

As part of Plexconcil's efforts to promote Indian plastics exports, the Council organised buyer-seller meetings with Guatemala, El Salvador, Honduras and Mexico with the support of the Indian embassies in Guatemala (concurrently accredited to El Salvador and Honduras) and Mexico. Promotional meetings were also held with stakeholders in Costa Rica with support from the Embassy of India in Panama. 

According to Plexconcil, Central America is an emerging market and "presents immense opportunities for exports". Also, it's a strategic location makes it the ideal gateway for North and South American continents. 

Dasmohapatra said, "The Council plans to help exporters tap into opportunities in these markets. On the other hand, the Council will also be leading one of its largest trade delegations of 73+ participants under the India Pavilion to ARABPLAST in UAE in December. We have been monitoring data and identifying countries and regions with high export potential and such initiatives have been designed to extend our industry’s outreach to these strategic markets."

Dasmohapatra added, "Furthermore more, we had a fruitful meeting with Embassy of India, Washington DC and active discussions were held regarding making deeper inroads into the American market and reaching out to retail chains such as Walmart, Costco, Target etc who may be interested in sourcing plastic goods from India."

Packaging items - flexible, rigid export surged by 18.1% on account of higher sales of sacks and bags of plastics, carboys, bottles, flasks and similar articles for the conveyance or packaging of goods made up of plastics and articles for the conveyance or packaging of goods of plastics. India mainly exports packaging items - flexible, rigid to North America and Europe.

Plastic films & sheets export were higher by 12.1% in October 2023 on account of improved sales of self-adhesive tape of plastics, films and sheets of polymers of ethylene, and films and sheets of polyethylene terephthalate. Indian exporters of plastic films and sheets informed that the export market has begun to show signs of improvement since the end of June 2023 quarter, with demand for the BOPP starting to recover. They are, however, concerned about the introduction of new capacities and an expected surge in supply of BOPET films.
 
Export of plastic pipes & fittings increased by 14.3% due to higher sales of rigid tubes and pipes of polymers of vinyl chloride and fittings like joints, elbows and flanges of plastics for pipes. The stabilisation in PVC prices helped increase the offtake.  

Plastics raw materials exports increased by 4.0% in October 2023 due to a rise in sales of polyethylene having a specific gravity of 0.94 or more, linear low density polyethylene and other acrylic polymers. Export of low-density polyethylene from India reported its highest-ever export in as many as two years in October 2023.

Export of writing instruments and stationery improved by 7.5% in October 2023 due to increase in sales of ball-point pens to Algeria, Kenya, and Thailand.

Plastic exports in other categories

Exports of consumer and houseware products improved by 6.3% in October 2023. This growth was due to higher sales of tableware and kitchenware made of plastics, builders ware of plastics and furniture made of plastics. It was seen that India exported more of builders’ ware of plastics to the United States of America and the United Kingdom; and furniture made of plastics to Panama.
 
Exports of cordage, fishnets and monofilaments experienced an increase of 17.3% in October 2023 due to greater sales of made-up fishing nets of nylon to countries like Chile, Kenya, Sri Lanka and the United Kingdom.  

In October 2023, the export of FIBC, woven sacks, woven fabrics, and tarpaulin demonstrated a positive growth of 20.5% due to increased sales of sacks and bags of plastics to certain African countries, and flexible intermediate bulk containers in general.

Export of floor coverings, leather cloth and laminates surged by 43.3% during October 2023 on account of higher sales of floorcoverings of PVC and textile fabrics impregnated, coated, covered or laminated with plastics to the USA. The export of decorative laminates also contributed to the growth.
 
Export of FRP & Composites was up by 33.6% on account of higher sales of articles of plastics and articles of other materials of heading 3901 to 3914, n.e.s. This export sector had faced challenges due to the economic downturn and elevated manufacturing costs in Europe, but it has now rebounded with increased sales.
 
Export of human hair and related products were up by 49.1% in October 2023 due to higher sales of human hair, unworked, whether or not washed or scoured to Myanmar and Human hair, dressed, thinned and bleached to China.
 
Medical items of plastics continued to perform well and its exports were up by 15.3% in October 2023 due to increase in sales of spectacle lenses - which has contributed to the growth in export of this particular panel. In fact India reported its highest-ever monthly export of spectacle lenses in October 2023. Export of miscellaneous products and items fell by 44.1% in October 2023 due to lower shipments of optical fibres, optical fibre bundles and cables.

Latest Poll

The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

Results

The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

Shortcomings in EPR policy

 

21.05%

Inadequate infrastructure

 

10.53%

Shortage of recycling firms

 

21.05%

Lack of consumer awareness

 

47.37%

Total Votes : 19

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