| Date: |
28-05-2010 |
| Subject: |
Plastic exports to grow by 10% in FY 10-11: Council |
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Plastic exports from the country are expected to grow by 10 percent in the current fiscal on account of increasing per capita consumption of the material globally, the Plastics Export Promotion Council said on Thursday.
While addressing a press conference in the national capital on Thursday, the Chairman of the council, Manoj Agarwal said, "Exports are showing signs of recovery in the western markets. We expect that exports would grow by about 10 percent in 2010-11 from an estimated USD 3.2 billion in 2009-10."
Plastic exports were impacted during the last fiscal due to demand slowdown in the US and the EU, which together account for over 30 percent of the outward plastic shipments.
India's share in global plastic exports is less than 1 percent. Exports of plastic have declined by almost 9 percent during April - February 2010, at about USD 2.80 billion. Plastic raw material exports still continues to dominate plastic exports constituting over 30 percent of the total exports, which earlier exceeded 50 percent.
"While the exports in the current year are likely to grow over 2008-09, the expansion would be less than in the Pr-economic crisis years. Earlier, exports were growing between 15-20 percent," Agarwal added.
Source : smetimes.tradeindia.com
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