MUMBAI: The Plastics Export Promotion Council (PLEXCONCIL) is confident that India's plastics exports will cross USD 8 billion mark due to the positive growth trend.
"The current trend in India's plastic exports seems highly encouraging and we are confident of crossing plastics exports to cross USD 8 billion mark in FY18 showing a 6 per cent increase from USD 7.56 billion in FY17. India's plastic exports to United States, the largest destination, continues to tread higher and nearing the coveted USD 1 billion mark," PLEXCONCIL Chairman Pradip Thakkar said.
During the first half of FY18, cumulative value of India's plastics exports witnessed a positive growth of around 9.5 per cent amounting to USD 3.49 billion as against USD 3.19 billion during the same period last year.
"We are working with the Government on a strategy in order to increase the Country's plastic exports as the global export market for plastics of USD 800 billion presents a huge opportunity.