Plexconnect in June to tap buyers from 63 countries

Plexconnect 2023 which will be hosted in Mumbai from 15-17 June has already received confirmation from 380 international buyers from over 63 countries. Trade delegations from several countries, including Kyrgyzstan, Uzbekistan, Korea, Brazil, Israel and Indonesia will participate in the three-day expo which will be hosted at the Bombay Exhibition Centre in Goregaon..

The Plastics Export Promotion Council (popularly known as PLEXCONCIL) represents the exporting community in the Indian plastics industry. More than 45 Indian embassies and high commissions are promoting this government-sponsored expo. Plexconcil, with the support of the Ministry of External Affairs (MEA), has been in constant coordination with 70-80 Indian embassies and foreign missions to promote and attract buyers from their respective regions.

Sribash Dasmohapatra, executive director, Plexconcil said “Plexconcil also planned RBSM (reverse buyer-seller meet) at the expo featuring about 500 select international buyers from more than 100 countries who are being invited to network and conduct trade with Indian plastics exporters during the exhibition. The export opportunities for the plastics industry are bound to rise with the signing of the Economic Cooperation and Trade Agreement (ECTA) with Australia and the Comprehensive Economic Cooperation Agreement (CEPA) with the UAE.”  

India’s plastics export has been growing at a CAGR of 12% and Plexconcil plans to double exports to reach USD 25 billion by 2025. India currently exports to over 200 countries globally including China, US, UAE, Germany, Italy and the Netherlands.

There are many more such agreements in the offing, Dasmohapatra pointed out. Since 90% of the plastics industry units are MSMEs, the Council is also working with the MSME Ministry to extend grants under the PMS Scheme to the MSME exporters, which will help facilitate their participation at very minimal or no cost to them, Dasmohapatra said. 

Hemant Minocha, chairman, Plexconcil said, “Over 150 embassies have been contacted for the global promotion of the event.” He added, “The global export market for plastics is valued at USD 1.2 trillion, with India’s share being just about 1.1%, with the potential to garner 3% by 2025. Post-Covid, there have been great disruptions in the global supply chains, and we believe that rather than being the alternative to sourcing from China, our industry has the resources and the capabilities to become the world’s leading hub to source plastics.” 

Established in 1955, The Plastics Export Promotion Council, Plexconcil, sponsored by the Ministry of Commerce and Industry, Department of Commerce and Government of India, continues to remain engaged in promoting India as a major sourcing hub for the plastics industry opening new bilateral trade opportunities for the Indian and global plastics industries.