Plastic exports rise 9.4% to $933 million in October 2023: Plexconcil
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Plastics Export Promotion Council (Plexconcil) has said that plastic exports grew 9.4 per cent year-on-year to $933 million 2023 as the raw material prices declined and festive demand in key markets increased. The country's plastic exports stood at $852 million in October 2022.
It stated ‘We are very pleased to see a positive movement in exports of most of the product segments in October.’ There is an increase in demand following the festival season in the key markets. Exports of consumer and houseware products improved by 6.3 per cent in October, primarily due to higher sales of tableware and kitchenware made of plastics, builders ware of plastics and furniture made of plastics.
The Plexconcil added It was seen that India exported more of builders' ware of plastics to the US and UK; and plastic furnitureto Panama. Plexconcil Executive Director Sribash Dasmohapatra said ‘We also saw a decline in raw material prices, which boosted exports. We hope that this trend continues into the next few months, and we are able to achieve overall growth despite the dampening performance in the past six months.’
