Plastics exports on the upswing

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The Plastics Export Promotion Council (PLEXCONCIL), the apex trade body of plastics exporters, has highlighted that plastics exports have grown in January 2021 (up 12.2% vis–vis January 2020) and February 2021 (up 3.2% vis–vis February 2020 on a provisional basis) the second successive month of growth in exports in the new year. In January 2021, nine of the product panels, namely, composites/FRP products; floor coverings, leather cloth and laminates; human hair; pipes and fittings; polyester films; plastic raw materials; rigid packaging and PET preforms; woven sacks/FIBCs and miscellaneous products witnessed positive growth.

With the Union Minister of Commerce & Industry doing continuous engagements with the plastics industry, which mostly comprise MSMEs, the industry has been witnessing stabilisation in raw materials prices (particularly PVC Resin) in March 2021. The industry has welcomed the Ministers initiative to coordinate with different ministries and government bodies after PLEXCONCIL sought his intervention to ensure adequate raw material supply to the processors from petrochemical majors (including PSUs) at a fair price, said a release.