Synopsis
With more than 30,000 processing units, India s plastic goods are exported to over 200 countries, but the sector is facing many structural issues which need to be addressed urgently.
Despite India having an FTA with ASEAN and SAARC, the export of value added plastic goods to ASEAN countries is lesser than our share in trade with the USA, UK and WANA, says Goenka. (Pic: Plexconcil)
India s plastics sector plays a catalytic role in the economic development of the country. Unsurprisingly, the country currently ranks among the top five consumers of polymers in the world, has over 30,000 plastics processing units, employing over four million people across the country. India s plastics goods are exported to over 200 countries and plastics formed 3.3% of the country s overall merchandise exports in 2018-19. However, the sector, with almost 65% of exports from MSMEs, is faced with many structural challenges too. With the Union Budget 2021 around the corner,
Arvind Goenka - new Chairman of The Plastics Export Promotion Council adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.