Plexconnect to double the international buyers to over 900

The Plastic Export Promotion Council, sponsored by the Department of Commerce, Government of India, is on course to once again organise India’s largest export-focused plastic expo with Plexconnect 2024. This year’s expo will be twice the size of the previous year's as Plexconxil expects participation from over 900 international buyers from more than 100 countries. The three-day event is scheduled to take place from 7 to 9 June 2024, in Mumbai.

Hemant Minocha, the chairman said, "We have already received registrations from more than 600 buyers representing 65 countries who are eager to partake in the pivotal Reverse Buyer-Seller Meet (RBSM) during Plexconnect 2024. Among them, significant interest has been expressed by buyers from Africa, showing a strong inclination towards engaging in trade discussions with Indian exporters of plastic products. We are expecting at least 400 more buyers to confirm their participation in the next 2 months, making Plexconnect 2024 the biggest plastic exports summit of the country. Furthermore, after our successful meetings with Indian Consulates in the USA who are actively helping us with our outreach to large format stores in North America, we are expecting stores such as Walmart, Target and Ikea,  to visit the show for their sourcing. "

Dhruv Sayani, the convener of the Plexconnect 2024 sub-committee said, "Following the signing of the India-EFTA Trade and Economic Partnership Agreement on 10 March 2024, the council is ramping up efforts to engage with esteemed buyers from Norway, which stands as India's primary export destination for plastics products within the four-nation EFTA block. In recent years, India has notably exported fishing gear, flexible packaging products, and decorative laminates to Norway. This is a part of our larger strategy to achieve the target of plastic exports worth USD 25-billion by 2027."

“Plexconnect 2024 aims to spotlight innovation, sustainability, and growth, fostering modern techniques crucial for sustaining the evolution of India's plastics industry. It endeavours to propel India into a premier global sourcing hub for plastics. This three-day event offers exhibitors an exceptional platform to unveil their latest advancements in processing, machinery, moulds, dies, auxiliary equipment, printing and packaging, raw materials, and beyond,” said Sribash Dasmohapatra, executive director, of Plexconcil.

The second edition, Plexconnect 2024, slated to be held at Bombay Exhibition Centre (NESCO), Goregaon, from  7-9 June 2024, in Hall No 2 & 3, NESCO Mumbai, aims to further the Council’s objectives of achieving its export target and fostering greater collaboration between Indian industries and the global plastics industry.

The Reverse Buyer-Seller Meet (RBSM) attracted 400 buyers from 51 countries, resulting in 4161 business meetings. The event received support from the Department of Commerce, Department of Chemicals and Petrochemicals, Ministry of Micro, Small, and Medium Enterprises, as well as 10 plastics associations from across India.

Minocha further stated, "India's plastics industry has experienced remarkable expansion over the past decade, witnessing a surge in trade activities from USD 19-billion in 2013-14 to USD 37-billion in FY 2022-23. With a compounded annual growth rate (CAGR) of 4.8%, India's plastics exports reached USD 12-billion in FY 2022-23, with the potential to soar to USD 25-billion by 2027. Despite this growth, considering the global plastics trade valued at USD 1.1-trillion and a consistent production growth rate of 8.2% per annum since 1950, there remains ample opportunity for further expansion in the Indian plastics sector. Aligned with the Prime Minister's vision, our objective is to attract major global players to source from and invest in India."