ENA Sectors 2026-01-28 17:54:34 <p><span style="font-size:14px"><strong>New Delhi, Jan 28 (KNN)</strong> The PlastIndia Foundation, representing Indias plastics industry, has welcomed the India European Union (EU) Free Trade Agreement (FTA), describing it as a strategic step expected to enhance bilateral trade, investment, and technological collaboration.</span></p> <p><strong><span style="font-size:14px">Market Opportunities and Export Growth</span></strong></p> <p><span style="font-size:14px">PlastIndia Foundation President Ravish Kamath said the FTA opens new growth avenues for Indias plastics and petrochemicals sector by improving market access, reducing tariff and non-tariff barriers, and promoting innovation-led manufacturing.</span></p> <p><span style="font-size:14px">The India EU FTA will strengthen Indias position as a global manufacturing and export hub for plastics and allied products. It will facilitate greater integration of Indian industry with European value chains, promote sustainable materials, and enable technology transfer&mdash;especially in recycling, circular economy solutions, and advanced polymer applications, he added.</span></p> <p><span style="font-size:14px">Currently, the European Union is Indias second-largest export destination for plastics, with exports valued at around USD 3.7 billion. Industry estimates indicate an untapped potential of nearly USD 9 billion, which the FTA could unlock. </span></p> <p><span style="font-size:14px">This landmark agreement is expected to drive multifold growth for the sector by enhancing competitiveness, expanding market access, and encouraging higher value-added exports. At present, our total plastic exports stand at USD 10 billion in 2025, Kamath said.</span></p> <p><strong><span style="font-size:14px">Strategic and Industrial Impact</span></strong></p> <p><span style="font-size:14px">Kamath noted that the agreement is expected to drive growth in value-added plastic products, attract foreign direct investment, and generate employment across the sector, while supporting initiatives such as Make in India and Atmanirbhar Bharat.</span></p> <p><span style="font-size:14px">The FTA also provides Indian manufacturers, particularly MSMEs, an opportunity to enhance quality standards and adopt global best practices, strengthening competitiveness in international markets.</span></p> <p><span style="font-size:14px">Kamath reiterated, The Foundation looks forward to working closely with policymakers and stakeholders to ensure smooth implementation of the agreement and to maximise its benefits for the Indian plastics industry. </span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 44923 https://knnindia.co.in/news/newsdetails/sectors/indiaeu-fta-to-unlock-major-growth-opportunities-for-indias-plastics-industry-plastindia-foundation 2026-01-28 17:54:34 knnindia.co.in