The Plastics Export Promotion Council of India (Plexconcil) has brought 73 top exporters to the India Pavilion at ArabPlast 2023, a premier global trade show for plastics, petrochemicals and rubber, which opened on December 13.

 

The 16th edition of ArabPlast, which runs at the Dubai World Trade Centre (DWTC) till December 15, presents a unique opportunity for Indian companies to expand their reach in the region. The event would also witness participation from key dignitaries and diplomats from multiple government agencies.

 

“The Middle East imported $38 billion worth of plastics in 2022, with India capturing a 4.7% share ($1.7 billion). This data clearly highlights the immense growth potential for Indian plastics in the region. As the apex body for the Indian plastics export industry, Plexconcil is committed to helping our members tap into this potential. Our participation in ArabPlast with our largest-ever delegation of 73 exporters reflects this commitment,” said Hemant Minocha, Chairman of Plexconcil.

 

Long history

India and the UAE share a long history of successful trade relations, with the UAE being the third-largest importer of Indian plastics. The UAE's strategic location makes it a hub for global trade, fostering a vibrant business networking environment. 

 

Bilateral trade between India and the UAE reached $85 billion in 2022-23. While India imports more plastics from the UAE ($1.7 billion) than it exports ($580 million), there is significant room for growth. Key export categories for India include plastic raw materials (39.2%), plastic films and sheets (13.6%), and consumer and houseware products (8.4%). It is estimated that the export potential for Indian plastics to the UAE will be around $5 billion.

 

“The signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE has further strengthened bilateral ties and provided a framework for enhanced economic cooperation. This historic agreement facilitates increased collaboration and economic partnerships. Platforms like ArabPlast serve as strategic hubs for Indian exporters to expand their footprint in the UAE and the wider Middle East region,” said Sribash Dasmohapatra, ED of Plexconcil.

 

Export potential

Recognising the significance of ArabPlast, Plexconcil, with support from the Ministry of Commerce and Industry, Department of Commerce, Government of India, is actively assisting Indian plastics manufacturers in understanding and exploring the export potential in the Middle East. India's participation in ArabPlast aligns with its commitment to strengthening trade relations with the UAE and unlocking the region's vast potential.

 

As India’s exclusive alliance partner, Plexconcil has been closely collaborating with Al Fajer which reflects a shared commitment to advancing mutual interests and fostering long-term partnerships between the importers/ exporters of the two countries.--TradeArabia News Service