PLEXCONNECT 2024 is on course to double the number of international buyers to over 900 from 100+ countries

17-Apr-24

600  international buyers have already registered; PLEXCONCIL targets at least 900 buyers this year

PLEXCONNECT 2024 will witness international buyer participation from over 100 countries,

making it India’s largest-ever plastic export-focused exhibition

PLEXCONCIL set to achieve USD 25 Billion in Plastics Exports by 2027

MUMBAI, April 17, 2024: The Plastic Export Promotion Council, PLEXCONCIL sponsored by the Department of Commerce, Government of India, is on course to once again organize India’s largest export-focused plastic expo with PLEXCONNECT 2024. This year’s expo will be twice the size of the previous year's as PLEXCONCIL expects participation from over 900 international buyers from 100+ countries. The three-day event is scheduled to take place from June 7th to 9th, 2024, in Mumbai.

Speaking on the massive response that PLEXCONNECT has already generated, Hemant Minocha, Chairman said, "We have already received registrations from more than 600 buyers representing 65 countries who are eager to partake in the pivotal Reverse Buyer-Seller Meet (RBSM) during PLEXCONNECT 2024. Among them, significant interest has been expressed by buyers from Africa, showing a strong inclination towards engaging in trade discussions with Indian exporters of plastic products. Additionally, enthusiasm abounds among buyers hailing from South Asia, ASEAN, Latin America (notably Brazil, Guatemala, Chile), CIS (Russia), WANA (Egypt), Europe (United Kingdom), and North America (United States). We are expecting at least 400 more buyers to confirm their participation in the next 2 months, making PLEXCONNECT 2024 the biggest plastic exports summit of the country. Furthermore, after our successful meetings with Indian Consulates in USA who are actively helping us with our outreach to large format stores in North America, we are expecting stores such as Walmart, Target, IKEA, etc to visit the show for their sourcing. "

Speaking on PLEXCONNECT’s global appeal, Dhruv Sayani, Convener, PLEXONNECT 2024 Sub-Committee said, "Brazil is increasingly becoming a notable purchaser of medical items and toothbrushes made of plastics, while Chile exhibits a preference for procuring fishing gear and packaging products of plastics from India. With Egypt's significant imports of polymers from India, buyers attending PLEXCONNECT 2024 are anticipated to actively seek out polymer producers. Moreover, following the signing of the India-EFTA Trade and Economic Partnership Agreement on 10th March 2024, the council is ramping up efforts to engage with esteemed buyers from Norway, which stands as India's primary export destination for plastics products within the four-nation EFTA block. In recent years, India has notably exported fishing gear, flexible packaging products, and decorative laminates to Norway. This is a part of our larger strategy to achieve the target of plastic exports worth USD 25 billion by 2027.

Leading participants of the plastic industry of India, such as Rajiv Plastics Pvt. Ltd., ALOK Masterbatches Pvt. Ltd., Blends Colours Private Limited, JJ Plastalloy Pvt. Ltd., Mehul Colours & Masterbatch Pvt. Ltd., will showcase innovative products and technologies in the realm of raw materials. Meanwhile, companies like RR PLAST EXTRUSIONS PVT. LTD., MAMATA MACHINERY PVT. LTD. will exhibit cutting-edge machinery. Additionally, brands like Pashupati Excrusion Pvt Ltd will present recycling equipment, while The Supreme Ind. Ltd., BIG BAGS International, Flair Writing Industries Limited, Sudhakar PVC Products Private Limited, RMG Polyvinyl  India Limited, FAMILY PLASTICS AND THERMOWARE (P) LIMITED, The Shakti Plastic Industries, DYNASTY PLASTICS PRIVATE LIMITED will showcase finished products to all the international buyers.

“PLEXCONNECT 2024 aims to spotlight innovation, sustainability, and growth, fostering modern techniques crucial for sustaining the evolution of India's plastics industry. It endeavours to propel India into a premier global sourcing hub for plastics. This three-day event offers exhibitors an exceptional platform to unveil their latest advancements in processing, machinery, moulds, dies, auxiliary equipment, printing and packaging, raw materials, and beyond,” said Sribash Dasmohapatra, Executive Director, PLEXCONCIL.

The second edition, PLEXCONNECT 2024, slated to be held at Bombay Exhibition Centre (NESCO), Goregaon, from June 7th to 9th, 2024, in Hall No 2 & 3, NESCO Mumbai, aims to further the Council’s objectives of achieving its export target and fostering greater collaboration between Indian industries and the global plastics industry. During PLEXCONNECT 2023, over 25 companies from Telangana, Tamil Nadu, and Madhya Pradesh showcased their products under state pavilions. The Reverse Buyer-Seller Meet (RBSM) attracted 400 buyers from 51 countries, resulting in 4161 business meetings. The event received support from the Dept. of Commerce, Dept. of Chemicals & Petrochemicals, Ministry of Micro, Small, and Medium Enterprises, as well as 10 plastics associations from across India.

Hemant Minocha, Chairman, further stated, "India's plastics industry has experienced remarkable expansion over the past decade, witnessing a surge in trade activities from US$19 billion in 2013-14 to US$37 billion in FY 2022-23. With a compounded annual growth rate (CAGR) of 4.8%, India's plastics exports reached USD 12 billion in FY 2022-23, with the potential to soar to USD 25 billion by 2027. Despite this growth, considering the global plastics trade valued at USD 1.1 trillion and a consistent production growth rate of 8.2% per annum since 1950, there remains ample opportunity for further expansion in the Indian plastics sector. Aligned with the Prime Minister's vision, our objective is to attract major global players to source from and invest in India.

For over six decades, PLEXCONCIL, with active support from the Ministry of Commerce and Industry, has been driving and accelerating the export growth of the Indian Plastics industry. Through the second edition of PLEXCONNECT, the Council intends to bring a larger number of industry players, particularly MSMEs, into the exporter fraternity and help them expand their global footprint.

About PLEXCONCIL:
The Plastics Export Promotion Council (PLEXCONCIL), established by the Ministry of Commerce & Industry, Department of Commerce, Government of India on 15th July 1955, acts as a bridge between the Industry and the Government. PLEXCONCIL is the apex body of the plastics industry in India and represents over 2,900 exporters who manufacture/export plastics products ranging from plastics raw materials to semi-finished and finished items. The Council has its headquarters in Mumbai, with regional offices in New Delhi, Kolkata, Chennai, and Ahmedabad.

For updates: https://plexconcil.org/

Media Contact:

Monika Patil – Vicara PR

Mob: 9022308824

Email: monika@wearevicara.com
www.wearevicara.com

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