Paving the way for Indian exports to the Middle East, and in line with its objectives of extending Indian plastics exports to newer markets as well as deeper market penetration in strategic regions, the Plastics Export Promotion Council of India (PlexConcil) will be leading a contingent of 73 exporters, one of the largest such delegations, under the India Pavilion at Arabplast 2023, to be held at the Dubai World Trade Centre from December 13 to 15. This significant event marks the 16th edition of Arabplast, the premier international expo for plastics, petrochemicals, and rubber in the Middle East.
India and the UAE share a long-standing history of trade relations, with the UAE holding the position as the third-largest destination for Indian plastics. The strategic location of the UAE has made it a leader in fostering a new era of business networking for global trade. Arabplast, serving as a universal platform, plays a pivotal role in bringing together industry leaders, exhibitors, and visitors to explore opportunities and collaborations.
“In 2022, the Middle East region imported plastics worth $38 billion, with India’s share accounting for 4.7 per cent ($1.7 billion) of the total. This data underscores the immense growth opportunity for India’s plastic industry in the Middle East. As the apex body for the Plastics exports industry in India, PlexConcil, has been instrumental in organising India Pavilions at renowned global plastics trade events and this year, we will be one of our biggest delegations comprising 73 plastics exporters under the India Pavilion at Arabplast. This is testimony to the growing significance of the Middle East in our outreach strategy”, said Hemant Minocha, chairman, PlexConcil.
In 2022-23, India and the UAE engaged in bilateral trade worth $85 billion. Within plastics, India is a net importer with imports from UAE valued at $1.7 billion to India in comparison to exports of $580 million from India to the UAE. The major items of India’s plastics export to the UAE were: plastic raw materials (39.2 per cent), plastic films and sheets (13.6 per cent) and consumer and houseware products (8.4 per cent). UAE’s annual plastics imports are valued at $9 billion approximately and India’s market in the UAE’s plastic imports is eight per cent approximately.
Research indicates that the export potential for plastics from India to the UAE stands at $5 billion.
“The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE has been a pivotal move made by the Governments of the two countries and has further strengthened bilateral ties, providing a framework for enhanced economic cooperation. The historic CEPA has paved the way for increased collaboration and economic partnerships platforms such as the Arabplast serves as a strategic hub for exporters looking to expand their footprint in not just the UAE but also the rest of the Middle Eastern region,” said Sribash Dasmohapatra, ED, PlexConcil.
Recognising the significance of this platform, PlexConcil, with the support of the Ministry of Commerce and Industry, Department of Commerce, Government of India, is making concentrated efforts to assist Indian plastics producers in understanding and exploring export potential in the Middle East. India’s participation in Arabplast is aligned with its commitment to strengthening trade relations with the UAE and tapping into the vast potential the region holds.
As India’s exclusive alliance partner, PlexConcil congratulates the Al Fajer team for their continued support in making Arabplast a success year after year. The collaboration between PlexConcil and Al Fajer reflects a shared commitment to advancing mutual interests and fostering long-term partnerships.
Source: khaleejtimes.com
