Published on January 10, 2018
Currently India’s plastic exports are highly encouraging and market players are confident of crossing plastics exports to cross USD 8 billion mark in FY18 showing a 6 per cent increase from USD 7.56 billion in FY17.
On account of positive growth trend Indian plastic export will cross around USD 8 billion.
As per market players, they are working with the government to form strategy in order to increase the country’s plastic export as the global export market.
India exported plastics to 185 countries in September 2017. United States, China and Italy were the top three buyers of plastics from India. To increase the export the country has added the Sao Tome, Belize, Samoa, French Polynesia, Guadeloupe, South Sudan etc.
As per market predictors, there are some limitations which are creating hurdle in the growth of industry. On account of fragmented nature of industry players they are adopting new technologies very slowly which are creating problems for the growth of the sector.
Market analyst said that, as per the present growth of the industry and positive stipulation from end users across the world in the 1Q of the 2018 industry will attain pioneering opportunities.