After successfully organizing the export-focused international plastics exposition, PlexConnect 2023, in June this year, The Plastics Export Promotion Council of India (Plexconcil) will organize the second edition, PlexConnect 2024 from 7 to 9 June 2024 in Mumbai.
“PlexConnect 2023 was a great success for the plastics industry, and despite being our maiden venture into organizing our very own international scale trade fair for plastics exports, the exhibition generated business inquiries valued at over $16.1 million, while deals valued at about $5.3 million were finalized during the 3 days. Several foreign country delegations expressed their interest in continuing their business with India and the exhibition received international interest with over 80 Indian embassies and high commissions promoting the exhibition,” said Hemant Minocha, Chairman, Plexconcil.
At PlexConnect 2023, more than 25 companies from Telangana, Tamil Nadu, and Madhya Pradesh participated under the state pavilions. Around 400 buyers from 51 other nations participated at the RBSM and 4161 business meetings were held. More than 7000 trade visitors attended the show. The event was supported by the department of commerce, chemicals & petrochemicals, the ministry of micro, small, and medium enterprises as well as 10 plastics associations from across India.
“India exports products of plastics to over 200 countries, and given the shift in global trade dynamics, we believe there is a significant chance to expand India’s plastics exports both in developed and emerging markets to become a major hub for global sourcing. The upcoming edition is poised to welcome 900 international buyers from 100+ countries, 25,000 trade visitors, and cover 20,000 square meters of space,” said Sribash Dasmohapatra, executive director, Plexconcil.
India has witnessed a huge growth in plastics trade in the past 10 years, rising from US$ 19 billion in 2013-14 to US$ 37 billion in FY 2022-23 at a CAGR of 4.8%. In FY 2022-23, India’s plastics exports stood at US$ 12 billion with the potential to reach US$ 25 billion by 2027.
PlexConnect 2024 will be held at the Bombay Exhibition Center (NESCO), Goregaon, from June 7 to 9 June, 2024 at Hall No 2 & 3. It aims to further the council’s objectives in achieving its export target and foster greater collaboration between Indian industries and the global plastics industry.
The global plastics trade is a US$ 1.1 trillion market and global plastic production has been growing at a rate of 8.2% pa since 1950. “As mentioned by minister Piyush Goyal, the Indian plastics sector still has a lot of territory to cover even as we entice global giants to source from and invest in India,” said Dhruv Sayani, convener, PlexConnect 2024 Sub-Committee.
For over six decades Plexconcil, with active support from the ministry of commerce and industry, has been driving and accelerating the export growth of the Indian plastics industry. Through the second edition, the council intends to bring a larger number of industry players, MSMEs in particular, into the exporter fraternity and help them expand their global footprint.
“The first edition, PlexConnect 2023, received overwhelmingly positive response from the industry, in terms of the overall efforts as well as the quality of buyers who visited the show. We expect much greater participation and further aim to bring unique buyers in the second edition as well to ensure wider benefit to our member exporters,” concluded Sribash Dasmohapatra, executive director, Plexconcil.
Plexconcil is an apex body of the plastics industry in India and represents over 2,900 exporters who manufacture/export plastics products ranging from plastics raw materials to semi-finished and finished items. The council has its headquarters in Mumbai, and regional offices in New Delhi, Kolkata, Chennai and Ahmedabad.
