The Plastics Industry And Its Export Trends
From the year 1957, when India first started the manufacture of polystyrene, the plastic industry in India has come a long way. With some major development products lined up in the ports, roads, telecom and many other infrastructure sectors, the plastic industry is expected to continue its growth at the rate of a minimum of 10% p.a. for many years to come. There is some major focus on the use of plasticulture in the agricultural sector as well and if this works out well, then the growth of this industry will increase by leaps and bounds.
Exports By This Industry
Over the years, the plastic exports have become an important part of the export structure of India. In fact, India has become one of the leading and the most promising exporters of plastic among all the other developing countries of the world. A huge variety of plastic raw material are being manufactured and exported from India. In addition to this plastic raw material, some of the other plastic goods which are being exported from India include the following:
- Polyester films
- Molded or soft luggage items
- Plastic molded and extruded goods
- Writing instruments
- PVC leather cloth
- Plastic Packaging items
- A variety of consumer items
- Sanitary fittings
- Sacks and backs made from woven plastic
- Electrical accessories
- Surgical items used in laboratories and other medical places
- Plastic items used for travelling purposes.
Besides the items listed above, there are many other plastic products which are being exported from India to different parts of the world.
Plastic Industry Export News
Some of the key markets and news related to the export of plastic from India are as follows:
- The plastic exports from India increased to $7916.94 million in the year 2013-14. During the previous year, i.e. 2012-13, the plastic export from India was valued at $ 7088.08 million.
- The rate of growth of plastic export from India in the year 2013-14 was around 11.69% and it is hoped that in the coming years as well, we will be able to sustain this growth rate.
- China is the biggest and the most important importer of plastic from India.
- Other than China, there are more than 150 countries around the globe which import plastic from India. Some of the key names in this list include the US, Turkey, the UAE, the UK, Italy, Pakistan, Nigeria, Brazil, Singapore, Sri Lanka, Saudi Arabia, South Africa and many other countries.
Promotion Of Plastic Export In India
In a bid to promote the export of plastic from India, the government has formed a body named the Plastic Export Promotion Council (PLEXCONCIL). The main responsibility of this body is to perform activities which would assist the manufacturers of the plastic industry is exporting their produce to various parts of the world. The key members of this board have been selected from among the manufacturers and exporters of the plastic industry itself. This group is expected to provide all the necessary help needed by any member of the plastic industry of India in order to increase the exports of plastic from the country.