Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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India’s plastics exports grew 31.6% to $4.59 billion during April to September 2018 (H1 2018-19) as against $3.48 billion in the same period last year. This is a faster pace of growth than the overall merchandise export growth from India, according to the Plastics Export Promotion Council (Plexconcil). During H1 2018-19, India reported merchandise exports worth $164.04 billion, an increase of 12.5% from $145.75 billion in H1 2017-18. Plastics formed 2.80% of India’s overall merchandise exports in H1 2018-19. “The growth in India’s plastics export has been primarily boosted by higher shipment of plastic raw materials, plastic sheet, film, plates, and packaging materials. During H1 2018-19, 23 out of the top 25 destination countries recorded year-on-year growth in plastics export from India,” Plexconcil said. Exports to China, Vietnam and Mexico witnessed high growth rates ranging between 70% and 140% during the H1 2018-19 period. Sribash Dasmohapatra, executive director, Plexconcil, said, “India’s plastics exports in H1 2018-19 were boosted by higher exports, especially to North-East Asia, Africa, European Union, ASEAN, South Asia, and North America.”
