export target

GuestofHonoursaidIndiafocuseson the concept of recycling and reusing to drive sustainable development and also become a major circular economy. The FTA negotiations, which are in progress with several countries, should help boost exports, hesaid.

With the government’s push for free trade agreements with several countries and the new Foreign Trade Policy, the MSMEs will witness a new era of exports, said Hemant Minocha, ChairmanofPlexconcil.Nearly90%of the Plastics companies fall under MSMEs and they are bound to take advantage of the new business

: Anupriya Patel

opportunities,hesaid.

“I am sure the global plastics industrywillprovethattheyarelooking beyondChinaPlusOneopportunityand play a big role in making India a major MSMEhub,”hesaid.

India’s plastics export has grown ataCAGRof6.1%inthelastfiveyears and PLEXCONCIL plans to double exports to reach USD 25 billion by 2027. India currently exports plastics goods to over 200 countries globally, including the United States, China, United Arab Emirates, the United Kingdom, Germany, Nepal, Italy, Bangladesh, the Netherlands, and SaudiArabia.