The plastic industry plays a considerable role in the Indian economy and contributes significantly to its GDP. It has grown exponentially thanks to the efforts of PLEXCONCIL, government initiatives, and Indian exporters. PLEXCONCIL is the Plastics Export Promotion Council that promotes Indian plastic exports internationally while targeting primary markets such as Latin America, the EU, the USA, Southeast Asia, the Middle East, Africa, and Oceania. At the same time, the government has also led many initiatives and schemes that promote and benefit the plastic industry. Find out more about it in the section below.
Government’s Role in Expanding Plastics Exports
The government has financial and non-financial initiatives to support and expand plastics exports. For instance, the Market Access Initiative or the MAI scheme promotes exports focusing on markets and specific products. There is also the EPCG or the Export Promotion Capital Goods Scheme that facilitates capital goods importation at concessional rates to boost the production rate. The Advance Authorisation scheme allows for duty-free inputs for export production.
The government has many more schemes that help the industry, including the Interest Equalisation Scheme, supporting exporters’ access to affordable financing. The scheme ensures that every plastic exporter can create the product they want without being withheld by any limitations. These initiatives are why Indian exporters can contribute to the country’s growth and expand their global footprint. Collaborative efforts occur between the government and PLEXCONCIL to make a healthy export environment in the global marketplace.
PLEXCONCIL: Promoting India’s Plastic Industry and Targeting Key Markets
PLEXCONCIL is helpful to the entire plastic industry in several ways, and one of its consistent contributions has been PlexConnect. This plastic exhibition provides a common platform for both exporters and buyers to trade with each other. At the same time, the council has worked consistently to promote exports and understand industry regulations, market nuances, consumer preferences, and more.
