Indian Exporters Eye on US-China Trade War & BREXIT Opportunities
CEO Insights team
Ravish Kamath, Chairman, Plastics Export Promotion Council, comments, “India’s plastics exports, which are likely to cross USD 11 billion this year – the highest ever – would greatly benefit from the US-China Trade war and BREXIT. For instance, post-BREXIT, UK’s plastics imports which are valued at USD 18 billion per annum and 70 percent of which is coming from the EU, would be open to more countries, like India in the future”.
Supported under the aegis of the Department of Commerce, Government of India and Department of Chemicals and Petrochemicals, Government of India, 4th CAPINDIA is organized jointly by CHEMEXCIL, PLEXCONCIL, CAPEXIL & SHEFEXIL is scheduled to be one of the largest sourcing and networking events for the Chemicals, Plastics, Construction & Mining Industries and Allied Products.
UK’s plastics imports which are valued at USD 18 billion per annum and 70 percent of which is coming from the EU, would be open to more countries.
Ajay Kadakia, Chairman of CHEMEXCIL claims that two areas Indian exporters could focus in 2019-2020 will be USA, EU and UK market’s disruption and BREXIT. With almost $15 billion Chinese exports in chemicals and plastics subject to US tariffs, India is ready to gain market share in US market. China being the single largest suppliers to USA and post import duty tariff regime, Indian companies should look at US business with eagerness. Astonishingly, the Chinese buyers are also looking for product sourcing from India due to their own environment related problems and our chemicals and plastics export have seen a consistent growth from India. Talking about BREXIT, UK’s chemical and drugs exports are about $60 billion and 60 percent of the same is consumed by EU. Also, 75 percent of UK’s chemical imports come from EU and Indian exporters would do well in both the markets.
Established in 1963, CHEMEXCIL’s objective includes making concerted efforts to promote exports of Basic Organic and Inorganic chemicals, dyes, pesticides, soaps, detergents, cosmetics, toiletries and other products like essential oils, castor oil and more. As of now, CHEMEXCIL has 4000 member comprising of Large Scale Manufacturers, Small scale manufacturers & Merchant Exporters.