Plexconnect 2023 Kicks Off in Mumbai, Marking India’s First Export-Focused Plastics Expo

Mumbai, Maharashtra (India), June 19: India’s first-ever export-focused plastics expo, Plexconnect 2023, has officially launched in Mumbai, offering a platform for innovation, trade, and business opportunities in the plastics sector. The event, organized by the Plastics Exports Promotion Council (Plexconcil), aims to connect Indian exporters with global buyers and strengthen India’s position as a leading hub for plastics manufacturing and exports.

In her inauguration speech, Smt. Anupriya Patel, Union Minister of State for Commerce, described the plastics industry as one of the fastest-growing sectors in India. She emphasized that India has rapidly emerged as a key global supplier of high-quality raw materials and finished products. “With a robust foreign trade policy and the government’s focus on promoting exports, India is poised to achieve the goal of two billion dollars in exports as we move toward becoming a $5 trillion economy,” she added.

Shri. Santosh Sarangi (IAS), Additional Secretary & Director General of Foreign Trade, acknowledged India’s commitment to sustainability through recycling and reuse initiatives. He highlighted ongoing negotiations for Free Trade Agreements (FTAs) with various countries, which are expected to boost India’s exports.

The first day of Plexconnect 2023 witnessed a tremendous response, with over 4,000 attendees and an impressive turnout from state pavilions representing Tamil Nadu, Telangana, and Madhya Pradesh. The event is set to welcome more than 400 international buyers from 51 countries, participating in a dedicated Reverse Buyer-Seller Meet over the next three days. The buyers were carefully selected from nearly 800 registrations, underscoring the growing global interest in India as an alternative sourcing hub.

Hemant Minocha, Chairman of Plexconcil, emphasized the role of MSMEs in India’s export growth. “Approximately 90% of the plastics companies in India are MSMEs, and the new business opportunities, driven by government support and free trade agreements, will greatly benefit these enterprises,” he said.

The Plexconnect 2023 expo has attracted trade delegations from several countries, including Uzbekistan, South Korea, Israel, Kyrgyzstan, Indonesia, and Brazil, who are here to explore business collaborations with Indian exporters. Sribash Dasmohapatra, Executive Director of Plexconcil, stated that the event is designed to facilitate close coordination between buyers and sellers, ensuring productive interactions.

With the recent signing of the Economic Cooperation and Trade Agreement (ECTA) with Australia and the Comprehensive Economic Partnership Agreement (CEPA) with the UAE, India’s plastics industry is poised for greater participation in global trade. “We look forward to more such agreements in the near future,” added Dasmohapatra.

India’s plastics exports have grown at a CAGR of 6.1% over the past five years, with the country’s export reach spanning over 200 countries, including major markets like the US, China, UAE, UK, Germany, Nepal, Italy, Bangladesh, Netherlands, and Saudi Arabia. Plexconcil aims to double exports to USD 25 billion by 2027.

About Plexconcil:
The Plastics Export Promotion Council (Plexconcil), established by the Ministry of Commerce & Industry, Government of India in 1955, is a non-profit organization that serves as a bridge between the plastics industry and the government. Representing over 2,800 exporters, Plexconcil supports the promotion of high-quality plastic products manufactured in India, facilitating exports worldwide.

For more updates and information, visit: Plexconcil

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