MUMBAI: The Country's exports of chemicals, plastics, construction materials and allied products stood at around USD 27 billion in 9-months period ended December 2016 as compared to USD 34 billion in FY 2015-16, an industry official said.
With Government's ambitious target of achieving an exports of USD 900 billion by 2020, chemicals, plastics and allied products will certainly play a major role.
"Currently, the sector accounts for exports of USD 32 billion with a significant scope of growth. We are working closely with the industry players and would soon implement a series of blue ocean strategies to enhance opportunities for investments and boosting Indian exports," the official said after inauguration of CAPIndia.
Over 200 buyers from 36 countries were congregating at Mumbai for two-days at CAPIndia, a joint effort by four export promotion councils, CHEMEXCIL, CAPEXIL, PLEXCONCIL AND SHEFEXIL.
"The last two years have been very satisfying. The single minded purpose shown together by Government, several policy makers, export promotion councils, exporters, have created the energy to turn the tide.
"We are already witnessing the green shoots of a high paced growth in Indian exports. This comes at a time when economies around the world are struggling to stay positive in their growth," Secretary, Ministry of Commerce and Industry Rita Teaotia said.
The response to CAPIndia 2017 can well be considered as a good indicator of constantly improving world's preference towards Indian products which is needed to meet Country's objective of export of USD 900 billion by 2022, Teaotia said.