India’s plastic exports in February, 2024 have been value $997 million, up 14.3 per cent from $872 million in the identical interval a 12 months in the past. Nevertheless, shipments within the April-February interval of the 2023-24 fiscal have been down by 4.4 per cent at $10.43 billion in opposition to $10.91 billion throughout the year-ago interval.
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A characteristic of the exports was file shipments of fishing nets in February, 2024. Moreover, there was a 29.7 per cent enhance in exports of cordage, fishnets and monofilaments because of greater gross sales of twine, cordage, ropes and cables product of polyethylene or polypropylene and made-up fishing nets.
Important progress
In response to Plastics Export Promotion Council (Plexconcil), vital export progress was witnessed in February throughout a majority of merchandise together with plastic uncooked supplies, plastic movies and sheets, versatile intermediate bulk container (FIBC), woven sacks, woven materials, tarpaulin, medical objects and plastic pipes and fittings.
Nevertheless, shipments of writing devices and stationery, shopper and houseware merchandise, human hair and associated merchandise apart from miscellaneous merchandise confronted issues.
Plexconcil Chairman Hemant Minocha mentioned, “India’s export progress in February, 2024 underscores our nation’s rising affect on the world stage. Regardless of challenges confronted by sure sectors like writing devices and stationery merchandise, our resilient method continues to drive progress.”
India will in all probability finish the 2023-24 fiscal with file excessive shipments of made-up fishing nets. “The export of FIBC, woven sacks, woven materials and tarpaulin confirmed a constructive progress of 27.5 per cent because of greater gross sales of sacks and baggage of plastics and versatile intermediate bulk containers”.
The export of leather-based material, laminates and flooring coverings elevated by 27.4 per cent in February because of elevated gross sales of vinyl chloride polymer flooring coverings, ornamental laminates and textile materials impregnated, coated, lined or laminated with plastics. “India’s ornamental laminate exports are anticipated to achieve all-time highs by the top of the 2023-24 fiscal. Gross sales of syringes, catheters, cannulae and blood transfusion equipment contributed to a 12 per cent enhance in medical plastics exports in February, 2024,” he mentioned.
Shipments of blood transfusion tools and cardiac catheters may very well be a file excessive, whereas versatile and inflexible packaging objects exports have been up by 27.3 per cent on elevated gross sales of plastic sacks and baggage, plastic caps and closures and different articles used for packaging or transporting items.
The export of plastic movies and sheets elevated by 21.9 per cent in February, 2024 because of greater gross sales of self-adhesive plastic movies and sheets, propylene movies and sheets, versatile polyethylene terephthalate movies and sheets and different plastic movies and sheets for solar and dirt management.
- Additionally learn:Plastics export tops $1.1 b in December 2023 on file shipments of contact lenses, spectacles and goggles
Exports of plastic pipes and fittings rose by 17.1 per cent because of rising gross sales of vinyl chloride polymer tubes and pipes in addition to fittings, together with elbows, flanges and joints for pipes. Vinyl chloride polymer tubes and pipes shipments can also prime file excessive.
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