Schedule a Call Back
Plexconnect 2023 foresees 380 international buyers from over 63 countries
Industry News- May 02,23
The international plastic event, Plexconnect 2023 is happening from June 15 to 17, 2023 at Bombay Exhibition Centre (NESCO), Mumbai. The event organised by Plastics Exports Promotion Council of India (Plexconcil) anticipates buyers from countries such as 63 countries Kyrgystan, Uzbekistan, Korea, Brazil, Israel, and Indonesia.
Poised to become an important event in the international plastic events calendar, Plexconnect 2023 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 also participate in the first-ever export-focused event being organised by the Plastics Exports Promotion Council of India (Plexconcil) under the aegis of the Union Commerce Ministry from June 15 to 17, 2023 at the Bombay Exhibition Centre (NESCO), in Mumbai. Plexconnect 2023 attracts a global audience as over 45 Indian embassies and high commissions promote this government-sponsored event.
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. Over 150 embassies have been contacted for the global promotion of the event, said Hemant Minocha, Chairman of Plexconcil. The global export market for plastics is valued at $1.2 trillion, with India’s share being just about 1.1 per cent, with the potential to garner 3 per cent 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,” Minocha 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, said Sribash Dasmohapatra, Executive Director, Plexconcil. There are many more such agreements in the offing, he pointed out. 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. He pointed out that about 90 per cent of the plastics industry units are MSMEs.
Besides our efforts, policies such as the new Foreign Trade Policy (FTP) released on March 31 place renewed thrust on emerging areas like e-commerce, streamlining of the SCOMET policy, provision for merchanting trade, and encouraging overseas transactions in INR with an aim to make it a global currency are forward-looking moves, Dasmohapatra said.
Through various initiatives, it also aims to build financial capabilities and further recommendations to reduce the barriers and increase MSME involvement and competitiveness in international trade, he said. While the new FTP & FTAs support overall export growth, a platform like Plexconnect will allow new exporters to learn about global trends and demand for Indian plastics, along with myriad benefits of becoming an exporter, he mentioned.
India’s plastics export has been growing at a CAGR of 12 per cent and Plexconcil plans to double exports to reach $25 billion by 2025.
India currently exports to over 200 countries globally including China, the US, UAE, Bangladesh, Nepal, UK, Turkey, Germany, Italy and the Netherlands.
Plexconnect 2023
Plastics Exports Promotion Council of India (Plexconcil)
Sribash Dasmohapatra
Hemant Minocha
Kyrgystan
Uzbekistan
Korea
Brazil
Israel
Indonesia
Foreign Trade Policy (FTP)
SCOMET policy
China
the US
UAE
Bangladesh
Nepal
UK
Turkey
Germany
Italy
the Netherlands
Ministry of External Affairs (MEA)
NESCO
Mumbai
Bombay Exhibition Centre
Related Stories
Process Equipment
AptarGroup breaks ground on new pharma plant in Taloja, near Mumbai
Spanning 4,400 square metres, the new plant will be constructed adjacent to Aptar's existing Mumbai facility, which opened in 2023.
Read moreAutomation & Robotics
India to become Siemens' top market by 2027
Siemens is expanding its existing network of 32 factories in India, with a recent €100 million investment directed towards capital expenditure, supporting growth in its infrastructure, industrial,..
Read moreProcess Equipment
India levies anti-dumping duty on chemical imports from China, Korea & Thailand
The decision follows a recommendation by the Directorate General of Trade Remedies (DGTR) under the Commerce Ministry, which found that Epichlorohydrin was being sold in India below standard prices ..
Read moreRelated Products
Rubber Sheets Material
POLYMERS, RUBBER & PLASTIC PROCESSING MACHINES
Talbros Sealing Material Pvt Ltd offers a wide range of rubber sheets materi Read more
Rail Rubber Pad
POLYMERS, RUBBER & PLASTIC PROCESSING MACHINES
Chamunda Enterprise offers a wide range of rail rubber pad.
Insulation Polyester Film
POLYMERS, RUBBER & PLASTIC PROCESSING MACHINES
TMA International Private Limited offers a wide range of insulation polyester film.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
