India's Plastic Exports Surge In December 2023 & January 2024: Plexconcil Report

New Delhi, Mar 7 (KNN) The Plastic Export Promotion Council (Plexconcil) has recently released a comprehensive analysis of India's plastic export trends for December 2023 and January 2024, sourced from data provided by the Ministry of Commerce and Industry, Government of India.

According to the report, India witnessed a notable surge in plastic exports during December 2023 and January 2024. In December 2023, India exported plastics worth USD 1,115 million, marking a significant increase of 12.7 per cent from USD 989 million recorded in December 2022.

Similarly, in January 2024, India's plastic exports totalled USD 916 million, showcasing a growth of 5 per cent compared to the USD 873 million in January 2023.

The report highlights that in December 2023, there was a substantial uptick in exports across various product categories, including Consumer & Houseware Products, Plastic Films and Sheets, Plastic Raw Materials and others.

However, certain sectors, such as Cordage, Fishnets & Monofilaments, and Writing Instruments & Stationery, faced challenges in achieving growth

Similarly, in January 2024, significant export expansion was observed across a wide range of product categories, including Plastic Films and Sheets, Plastic Raw Materials, FIBC, Woven Sacks, Woven Fabrics, Tarpaulin and others.

In a statement, Hemant Minocha, Chairman, Plexconcil, remarked, "The surge in export figures during December and January underscores India's growing impact on the global economy.”

He further added, “These recent months have provided us with a clear signal of rising demand from international markets, and our objective is to maintain this momentum throughout 2024.”

(KNN bureau)