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Plastic exports may jump 20-25 pc in FY22: PLEXCONCIL Chairman
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Plastic exports may grow 20-25% in FY22, says PLEXCONCIL Chairman
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The Plastics Export Promotion Council (PLEXCONCIL) has stated that plastics exports have grown in January 2021 (up 12.2% vis-vis January 2020) and February 2021 (up 3.2% vis-vis February 2020 on a provisional basis) - marking the second successive month of growth in plastics exports in the New Year.
In January 2021, nine of the product panels, namely, Composites / FRP products; Floor Coverings, leather cloth & laminates; Human hair; Pipes & fittings; Polyester films; Plastics raw materials; Rigid packaging & PET preforms; Woven sacks / FIBCs and Miscellaneous products witnessed a positive growth.
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Synopsis
Stakeholders from the textile sector, which remains one of the country’s key foreign exchange earning sectors, have also given thumbs up to the budget.
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Besides big players, the country’s MSME exporting firms have also welcomed the measures announced in the budget.
For Indian exporters who have been sailing against the rough tides for quite some time now, the Budget 2021 remains a mixed bag.
While the country’s exporting community hailed the specific policy measures to uplift business sentiments, it also flags missing gaps that needed speedy redressal.
It s noteworthy that India’s share in global merchandise exports currently stands at a paltry 1.67%. The industry body Confederation of Indian Industry (CII) in its Pre-Budget Memorandum 2021-22 had advocated the need for raising it to 5%. However, to achieve this ambitious target, the country certainly needs to improve its infrastructure and enhance its capacity utilisation.
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