Plastic exports up 31% in H1, above 70% growth in shipments to China, Vietnam
India's plastics exports grew 31.6% on year at $4.59 billion in the first half of the fiscal compared with $3.48 billion a year ago. The growth in India`s plastics export has been primarily boosted by higher shipment of plastic raw materials, plastic sheet, film, plates, and packaging materials, according to Plastics Export Promotion Council. Further, exports to China, Vietnam and Mexico witnessed high growth rates ranging between 70-140% in the April-September period. [China, United States and United Arab Emirates continue to be top-3 destinations for India`s plastics products. These three countries accounted for 27.5% of India`s plastics product exports, by value in the first half," said Ravish B Kamath, chairman, Plastics Export Promotion Council. India exported plastics to 205 countries in the period with French Guiana, Guam, Kiribati Republic, Lesotho, Marshall Island, Mayotte, Monaco, Nauru Republic and United States Virgin Islands being the latest destinations.
India is currently ranked among the top five consumers of polymers in the world and has 30,000 plus plastic processing units employing over four million people across the country.
| , ET Bureau
Nov 05, 2018, 07.55 PM IST