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market | IST

China-US stand-off helping India boost plastic exports to US: PLEXCONCIL

The Indian plastic export numbers have seen a very strong jump with a nearly 55 percent increase from the last year to this year. In the month of June itself, plastic exports soared more than 60 percent. Sharing his outlook, Arvind Goenka, Vice Chairman of Plastics Export Promotion Council of India, said, “The exports are doing good and the reason is China plus one strategy which the global buyers have adopted after the COVID issue.”

The Indian plastic export numbers have seen a very strong jump with a nearly 55 percent increase from the last year to this year. In the month of June itself, plastic exports soared more than 60 percent.
Plastic and product exports were at $10 billion in the past year.
Sharing his outlook, Arvind Goenka, Vice Chairman of Plastics Export Promotion Council of India, said, “The exports are doing good and the reason is China plus one strategy which the global buyers have adopted after the COVID issue.”
Goenka said plastics have played a pivotal role in the pandemic in terms of use in medical supplies and packaging. “Exports of those have also surged,” he said citing the reasons for the growth in plastics.
“The plastic value-added goods are mostly going to the developed markets like the US or the EU and the current negotiations that are going on for the treated agreement with UK and EU will also definitely help us, the China-US stand-off is also helping us boost our exports to US,” he said.
For the full interview, watch the accompanying video.