Plexconnect 2024 focuses on rising polymer demand

Plexconnect has opened its door for the plastics and polymer industry. The three-day show hosted more than 400 international buyers from over 55 countries.

With the lamp lighting ceremony, the event was inaugurated by chief guest Ravish Kamath, Plexconcil chairman Hemant Minocha, Plexconcil executive director Sribash Dashmohapatra, past chairman Arvind Goenka and Plexconcil vice-chairman Vikram Bhadauria, and Plexconnect 2024 convener Dhruv Sayani.

In his inaugural address, Minocha, said “It has been a two-year young journey, but it will go a long way. The Indian plastic and polymer industry has witnessed an increase in demand by 14%, which is also the highest surge globally.”

Kamath expressed, “Plexconnect 2024 exemplifies India's prowess in the plastics industry with the demand for polymers in India outpacing GDP growth, projected to hit USD 30-billion by 2047, up from USD 3- to 4-trillion in 2022. With USD 67-billion worth of new projects underway, the Indian petrochemical industry is pivotal in the nation’s aim to become a USD 1-trillion economy. This sector’s significance is underscored by government initiatives and international collaboration efforts."

Sayani shared the highlights of the event “Plastic products are shipped to 200+ countries. Quality innovation and international standards. To meet the diverse needs of the market, I believe that Plexconnect is a game-changer and will keep growing exponentially for the plastics and polymers industry.” He believes that with continued policy support and industry efforts, Plexconcil will achieve the target of USD 25-billion in plastics exports by 2027.

Dasmohaptra said, "The Indian Govt’s free trade agreements and the new Foreign Trade Policy have significantly boosted the MSME sector's growth. GOI’s incentives and schemes, including those from the MSME Ministry, and DoC, have further empowered businesses by facilitating exports. These strategic initiatives are propelling the Indian plastics industry towards remarkable growth and global market expansion."

Plexconcil's Reverse Buyer Seller Meet (RBSM) facilitated over 8,000 pre-scheduled buyer-seller meetings between Indian suppliers and global buyers looking to forge new sourcing partnerships. The event brought together all individuals and organisations looking into domestic plastic and polymer raw materials, for diverse applications such as packaging, automotive, and pharmaceutical.

On 7 June, evening witnessed the Export Excellence Awards, hosted by Plexconcil, to recognise industry leaders and top export performers. The awards show presented a total of 47 awards across categories like export performance, innovation and sustainability, women entrepreneurs, among others.

Vikram Bhadauria, vice-president, Plexconcil in his closing remarks mentioned that five-lakh crore to be invested in next five-six years in the plastics industry.