India eyes 20% growth in plastic products exports in FY14
Plastic exporters Wednesday said they are planning to tap the Middle East and African countries and expecting about 20 percent growth in shipment of plastic products and 22 percent in machinery in the next fiscal.
Mumbai: Plastic exporters Wednesday said they are planning to tap the Middle East and African countries and expecting about 20 percent growth in shipment of plastic products and 22 percent in machinery in the next fiscal.
"There is huge potential in the African countries where a lot of industrial growth is taking place. We are currently present in seven countries in the continent and are planning to expand our footprint in Africa," The Plastics Export Promotion Council (PEPC) Executive Director Ranjan Kalyanpur told reporters here.
In 2011, India exported about USD 7.1 billion plastic products and USD 150 million machinery accounting for 2.3 percent of the total exports to countries like the US, China, European Union, the Middle East and Africa.
"We are expecting about 20 percent growth (in) plastic products and 22 percent in machinery exports in FY14," he added.
Besides strengthening its footprint in Africa, the PEPC is also planning to explore opportunities in the Commonwealth of Independent States (CIS) countries, Romania and Poland, he added.
Even in the current economic scenario, the exports continue to be robust and the international demand remains, Kalyanpur said.
About 150 companies from India are taking part in four-day ARABPLAST 2013, leading trade show for the plastics industry in the Middle East, beginning from January 7, 2013.
"...ARABPLAST 2013 will help Indian companies...With a wide number of stakeholders from the entire Middle East and the African region visiting the event," Satish Khanna, General Manager, Al Fajer Information and Services said.