India aims to grow plastic exports to UAE by 4 times to $5 billion

India aims to grow plastic exports to UAE by 4 times to $5 billion

Published: Thu 14 Dec 2023, 10:26 AM

India aims to increase plastic exports to the UAE by four times to $5 billion (Dh18.35 billion) by 2027, said a senior official of the Plastics Export Promotion Council (Plexconcil) of India.

Hemant Minocha, chairman of Plexconcil, said India’s stable economy, proximity to the UAE, and high quality of plastic products will help the South Asian country to achieve its $5 billion export goal to the Emirates.

“Bilateral trade between India and UAE reached $85 billion in 2022-23. While India imports more plastics from the UAE than it exports to the Emirates, hence, there is substantial room for growth. Export potential for Indian plastics to the UAE alone is around $5 billion, which is almost four times what we are currently doing,” Minocha told Khaleej Times in an interview on the sidelines of the Arab Plast 2023 exhibition, which is taking place at the Dubai World Trade Centre from December 13 to 15.

Established by India’s Ministry of Commerce and Industry, the Plexconcil represents 3,000 exporters who manufacture/ trade in plastic products. It is taking part in Arab Plast 2023 with the largest contingent ever of 73 exporters.

Plexconcil has also set a target to achieve $25 billion