- During October 2023, India exported plastics worth USD 933 million, higher by 9.4% from USD 852 million in October 2022.
- Consumer & houseware products improved by 6.3%
- Cordage, fishnets & monofilaments experienced a significant increase of 17.3%
- FIBC, woven sacks, woven fabrics, & tarpaulin demonstrated a significant positive growth of 20.5%
- Floor coverings, leather cloth & laminates surged by 43.3%
- FRP & Composites was up by 33.6%
- Human hair & related products were up by 49.1%
- Medical items of plastics continued to perform well and its exports were up by 15.3% Miscellaneous products & items nes fell by 44.1%
- Packaging items - flexible, rigid export surged by 18.1%
- Plastic films & sheets export were higher by 12.1%
- Plastic pipes & fittings increased by 14.3%
- Plastics raw materials exports increased by 4.0%
- Export of Writing instruments & stationery improved by 7.5%
Plexconcil, the apex body of the plastics exporting community in India, released a detailed report on India's plastics export trends for October 2023. The study based on data from the Ministry of Commerce & Industry, Government of India indicates that for the month of October 2023 plastics exports witnessed a notable surge across almost all of the product panels such as Floorcoverings, leathercloth & laminates; FRP & Composites; FIBC, Woven sacks, Woven fabrics, Tarpaulin; Packaging items - flexible, rigid; Cordage, fishnets & monofilaments; Medical items of plastics; Plastic pipes & fittings; Plastic films and sheets; Writing instruments & stationery; Consumer & houseware products; Plastic raw materials and Human hair & related products.
During October 2023, India exported plastics worth USD 933 million, higher by 9.4% from USD 852 million in October 2022. Cumulative value of plastics export during April 2023 – October 2023 was USD 6,513 million as against USD 7,232 million during the same period last year, registering a decline of 9.9%.
Sribash Dasmohapatra, Executive Director, Plexconcil, said, “"We are very pleased to see a positive movement in exports of most of the product segments the month of October. We hope that this trend continues into the next few months, and we are able to achieve overall growth despite the dampening performance in the past six months. As part of our efforts to promote Indian plastics exports, the Council recently organized buyer-seller meetings with Central American countries of Guatemala, El Salvador, Honduras and Mexico with the support of the Indian embassies in Guatemala (concurrently accredited to El Salvador and Honduras) and Mexico. Promotional meetings were also held with stakeholders in Costa Rica with support from the Embassy of India in Panama. Furthermore more, we had a fruitful meeting with Embassy of India, Washington DC and active discussions were held regarding making deeper in roads into the American market and reaching out to retail chains such as Walmart, Costco, Target etc who may be interested in sourcing plastic goods from India. Central America is an emerging market and not only presents immense opportunities for exports, but its strategic location makes it the ideal gateway for North and South American continents. The Council plans to help exporters tap into opportunities in these markets. On the other hand, the Council will also be leading one of its largest trade delegations of 73+ participants under the India Pavilion to ARABPLAST in UAE in the month of December. We have been keenly monitoring data and identifying countries and regions with high export potential and such initiatives have been designed to extend our industry’s outreach to these strategic markets.
Exports of Consumer & houseware products improved by 6.3% in October 2023. This growth was primarily due to higher sales of Tableware and kitchenware made of plastics, builders ware of plastics and furniture made of plastics. It was seen that India exported more of builders’ ware of plastics to the United States of America and the United Kingdom; and Furniture made of plastics to Panama.
Exports of Cordage, fishnets & monofilaments experienced a significant increase of 17.3% in October 2023 due to greater sales of Made-up fishing nets of nylon to countries like Chile, Kenya, Sri Lanka and the United Kingdom.
In October 2023, the export of FIBC, woven sacks, woven fabrics, & tarpaulin demonstrated a significant positive growth of 20.5% due to increased sales of Sacks and bags of plastics to certain African countries, and flexible intermediate bulk containers in general.
Export of Floor coverings, leather cloth & laminates surged by 43.3% during October 2023 on account of higher sales of Floorcoverings of PVC and Textile fabrics impregnated, coated, covered or laminated with plastics to the United States of America. The export of Decorative laminates also contributed to the growth.
Export of FRP & Composites was up by 33.6% on account of higher sales of Articles of plastics and articles of other materials of heading 3901 to 3914, n.e.s. This export sector had faced challenges due to the economic downturn and elevated manufacturing costs in Europe, but it has now rebounded with increased sales.
Export of Human hair & related products were up by 49.1% in October 2023 due to higher sales of Human hair, unworked, whether or not washed or scoured to Myanmar and Human hair, dressed, thinned and bleached to China.
Medical items of plastics continued to perform well and its exports were up by 15.3% in October 2023 due to increase in sales of Spectacle lenses - which has contributed immensely to the positive growth in export of this particular panel. India reported its highest-ever monthly export of Spectacle lenses in October 2023. Export of Miscellaneous products & items nes fell by 44.1% in October 2023 due to lower shipments of Optical fibres, optical fibre bundles and cables.
Packaging items - flexible, rigid export surged by 18.1% on account of higher sales of Sacks and bags of plastics, Carboys, bottles, flasks and similar articles for the conveyance or packaging of goods made up of plastics and articles for the conveyance or packaging of goods of plastics. India mainly exports Packaging items - flexible, rigid to North America and Europe.
Plastic films & sheets export were higher by 12.1% in October 2023 on account of improved sales of self-adhesive tape of plastics, films and sheets of polymers of ethylene, and films and sheets of polyethylene terephthalate. Indian exporters of plastic films and sheets informed that the export market has begun to show signs of improvement since the fag-end of June 2023 quarter, with demand for the BOPP starting to recover. They are, however, concerned about the introduction of new capacities and an expected surge in supply of BOPET films.
Export of Plastic pipes & fittings increased by 14.3% due to higher sales of rigid tubes and pipes of polymers of vinyl chloride and fittings like joints, elbows and flanges of plastics for pipes. The stabilisation in PVC prices helped increase the offtake.
Plastics raw materials exports increased by 4.0% in October 2023 due to a rise in sales of polyethylene having a specific gravity of 0.94 or more, linear low density polyethylene and other acrylic polymers. Export of Low-density polyethylene from India reported its highest-ever export in as many as two years in October 2023.
Export of Writing instruments & stationery improved by 7.5% in October 2023 due to increase in sales of Ball- point pens (960810) to Algeria, Kenya, and Thailand.