India's plastic exports fall 6% as shipments to China, Pakistan dip

  • Date: 19-March-2020
  • India\'s exports during April-September topped USD 4.32 billion, compared to USD 4.59 billion in the same period in the last financial year, down 5.9 per cent, according to Chairman of the Plastics Export Promotion Council, Ravish Kumath. India\'s plastics exports in 2018-19 were USD 10.89 billion, up 24 per cent from previous year\'s figure of USD 8. 85 billion.

    India\'s plastics exports declined by six per cent in the first six months of the current fiscal following a dip in shipments to China and Pakistan, a senior industry official said on Friday.

    Exports during April-September topped USD 4.32 billion, compared to USD 4.59 billion in the same period in the last financial year, down 5.9 per cent, according to Chairman of the Plastics Export Promotion Council (PLEXCONCIL), Ravish Kumath.

    PLEXCONCIL is sponsored by the Ministry of Commerce and Industry, Department of Commerce, Government of India.

    Plastic accounts for 2. 7 per cent of India\'s total merchandise exports.

    The decline is due to a 19 per cent dip in export of plastics raw materials -- from USD 2.23 billion to USD 1.8 billion --, particularly to China, India\'s biggest market, Kamath told PTI.

    "The trade war between the US and China has really created a very serious impact," he said.

    India\'s plastics exports in 2018-19 were USD 10.89 billion, up 24 per cent from previous year\'s figure of USD 8. 85 billion.

    For the current fiscal, Kamath expects the exports growth to be flat.

    "We should be around USD 11 billion. Because of this trade tension (between the US and China), we expect that the exports would be around the same but the big change will be that manufactured exports or value added exports will increase drastically," he said.

    Read more at: Economic Times

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