Plexconcil targets to grow its overall exports to USD 25 Billion by 2027

The Plastic Export Promotion Council (Plexconcil), recently concluded strategic buyer-seller meets (BSM) and meetings across key Central American markets. While the BSMs held in El Salvador, Honduras and Guatemala resulted in 12 leading Indian exporters engaging with 104 representatives from 57 companies, the council also had very fruitful meetings with the Govt of Costa Rica, Chamber of Commerce, plastics associations and leading exporters from the country. The Indian embassy in Mexico further supported the outreach initiative by organising a BSM along the sidelines of the Plastimagen show in Mexico.

The Central American region is not only strategically placed as the gateway to the northern and southern American continents but is also a key emerging market for Indian plastics exports. With a combined export potential of USD 2 Billion, the region presents excellent prospects for the Indian industry. 

The agenda for the visit was to create awareness about the Indian Plastic Industry and its potential in the Central American market for quality products, including value-added products from India. The meetings were led by Hemant Minocha, chairman Plexconcil, along with Sribash Dasmohapatra, executive director of Plexconcil and Ruban Hobday, director – of South, Plexconcil, visiting the key stakeholders in the Plastic Industry.  

Speaking at the BSM, Hemant Minocha, Chairman of Plexconcil, said, “Central America’s robust economy and the increasing demand for plastic products in various sectors, including agriculture, packaging, and manufacturing, makes it an attractive destination for Indian plastic manufacturers. While China, Mexico, USA and South Korea have been majorly catering to this region, with changing supply chain dynamics, India is now emerging as a strong alternative to China. This can be a major thrust for Indian exporters who must capitalise on these emerging opportunities and expand their footprint into the region. The BSM and meetings fostered productive discussions and laid the foundation for strengthening trade relations in this sector, benefiting all stakeholders.”

Sribash Dasmohapatra, executive director of Plexconcil, added, “"In the mosaic of current global trade, the constructive collaboration between India and Central American countries paints a canvas of untapped potential. Now is the opportune moment for India to forge strategic partnerships and in an era of economic interdependence, bridge the gap between India and the nations of Central America. Through this initiative, Plexconcil hopes to not only foster mutual prosperity but also sustainable development for all stakeholders. 

“On the other hand, Plexconcil had a fruitful meeting with the 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. Presently, trade within plastics with the USA is in favour of India with exports of USD 2.3 Billion in comparison to imports of USD 1.8 Billion. Our internal research indicates that India has the export potential to grow by over USD 9.8 Billion in plastics raw materials, films & sheets, consumer & houseware among others," Dasmohapatra added.