The Plastics Export Promotion Council of India (PLEXCONCIL) spearheaded a substantial delegation of 73 exporters at ARABPLAST 2023, the leading international trade show for plastics, petrochemicals, and rubber in the Middle East, held at the Dubai World Trade Centre from December 13th to 15th. The event provided a significant opportunity for Indian companies to expand their presence in the region.
Hemant Minocha, Chairman of PLEXCONCIL, highlighted the potential for growth in Indian plastics within the Middle East, stating, “The Middle East imported USD 38 billion worth of plastics in 2022, with India capturing a 4.7% share (USD 1.7 billion). Our participation in ARABPLAST with our largest-ever delegation of 73 exporters reflected our commitment to helping our members tap into this potential.”
Bilateral trade between India and the UAE, reaching USD 85 billion in 2022-23, underscored the robust economic ties. While India imported more plastics from the UAE (USD 1.7 billion) than it exported (USD 580 million), there was considerable room for growth. Key export categories for India included plastic raw materials (39.2%), plastic films and sheets (13.6%), and consumer and houseware products (8.4%). Research estimated the export potential for Indian plastics to the UAE to be around USD 5 billion.
Sribash Dasmohapatra, Executive Director of PLEXCONCIL, emphasized the significance of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE, stating, “This historic agreement facilitated increased collaboration and economic partnerships. Platforms like ARABPLAST served as strategic hubs for Indian exporters to expand their footprint in the UAE and the wider Middle East region.”
Recognizing ARABPLAST’s importance, PLEXCONCIL, with support from the Ministry of Commerce and Industry, Department of Commerce, Government of India, actively assisted Indian plastics manufacturers in exploring export potential in the Middle East. PLEXCONCIL’s collaboration with Al Fajer aligned with a shared commitment to advancing mutual interests and fostering long-term partnerships between the importers/exporters of the two countries.
As India’s exclusive alliance partner, PLEXCONCIL invited industry stakeholders to explore business opportunities at ARABPLAST 2023 and looked forward to a fruitful participation.
The Plastics Export Promotion Council (PLEXCONCIL), established by the Ministry of Commerce & Industry, Department of Commerce, Government of India in 1955, served as a non-profit organization bridging the industry and the government. Representing over 3000 exporters, PLEXCONCIL is the apex body of the plastics industry in India, exporting products to over 200 countries globally.