Dip in India’s plastic exports
Findings from Plastics Export Promotion Council (Plexconcil) suggest that India’s plastic exports for September 2019 declined by 16.8% to US$ 649 million from US$ 780 million in September 2018. There was also a negative growth of 5.9% in the cumulative value of plastics export from India during April 2019 to September 2019 to US$ 4,324 million as against US$ 4,594 million during the same period last year. The data also points out that India’s plastics exports in September 2019 were negative across all territories including, ASEAN (-34%); Latin America & Caribbean (-30.1%); North-East Asia (-22.5%); Commonwealth of Independent States (-19.8%); European Union (-19.6%); Africa (-13.3%); South Asia (-11.4%); Middle East (-7.5%); and North America (-6.0%). To tame this situation, Plexconcil is attracting foreign buyers to do more business with Indian companies.