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Exports Fall by 15% in July Due to Reduced Plastic Demand in Major Markets

Updated: Aug 29, 2023 05:34:24pm

Exports Fall by 15% in July Due to Reduced Plastic Demand in Major Markets

New Delhi, Aug 29 (KNN) India’s plastics exports dipped by 14.6% to USD 956 million in July mainly due to decreasing demand in key export markets like the US and Europe, apex industry body Plastics Export Promotion Council (Plexconcil) said on Monday. 

The overall exports during July 2022 stood at USD 1.119 billion, Plexconcil said in a statement.


A major decline in exports was witnessed in Flexible Intermediate Bulk Containers (FIBC), plastic raw materials, packaging items, plastic films and sheets, and plastic writing instruments and stationery.

Meanwhile, cumulative plastics exports during the April-July period also dropped 14.9% to USD 3.741 billion as against the year-ago period.

"We are happy to see that consumer and houseware products, floor coverings, leather cloth, laminates, medical items of plastic... Are doing really well. The Indian plastics industry is undergoing a phenomenal transformation and is experiencing accelerated growth in recent years," Plexconcil Executive Director Sribash Dasmohapatra said.

Some categories witnessed positive growth while others saw a decline due to global demand fluctuations, market preferences and economic conditions, he said.  (KNN Bureau)


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