NEW DELHI, May 3, 2016: 48 leading plastic manufacturers from India across sectors, including products, raw materials, equipment and accessories and auxiliary teams and peripheral companies will participate in the “India Pavilion” of the 7th EXPO PLAST which is starting today in the Peruvian capital Lima and will go on till 6th May 2016. The “India Pavilion” ensuring “Quality Plastics for the World” is being organised by The Federation of Indian Chambers of Commerce and Industry (FICCI) as part of a Market Access Initiative project with the Ministry of Commerce & Industry, Government of India.
The EXPO PLAST PERU, the international exposition of the plastic industry, serves as the gateway to the plastic industry and related sectors of Peru, one of the fastest growing economies in Latin America.
The India Pavilion will be inaugurated by the Indian Ambassador to Peru, Sandeep Chakravorty. Industry leaders from the Indian plastics companies will be accompanied by representatives of the Organisation of Plastics Processors of India (OPPI), FICCI’s support partner from India.
Big corporate houses like Xpro, Chiripal Group and the National Plastics Industry are supporting this FICCI initiative in Peru. To enhance trade and investment, two important MoUs will be signed – an MoU between the OPPI and APPIPLAST, the Peruvian Association of Plastic Industry and the other between FICCI and the Lima Chamber of Commerce and INCHAM. India and Peru are currently looking to sign a Free Trade Agreement (FTA) to take the bilateral trade from $1.5 billion to $2 billion.
For Indian industry, EXPO PLAST PERU is a well-timed opportunity to showcase its growth and diversification as reflected in the wide range of companies exhibiting their products in the “India Pavilion”. These are plastics, synthetic resins, industry and raw material base, various chemical, machines, equipment and accessories, tools, roto-moulding system, blowing, instrumentation, control and automation, recycling, services and technical projects, energy efficiency, transformers, packaging, related entities, publications and peripherals services.
For Indian companies the EXPO PLAST PERU is an opportunity to benefit from Peru’s $ 2.5 billion market for plastics and allied products which meets most of its needs through imports. Peru is ranked 42nd globally and 3rd amongst Latin American countries in terms of ease of doing business. Indian companies can leverage on Peru’s various Free Trade Agreements and alliances which gives easy access to the entire Latin American region and specifically to the Pacific Alliance countries which offer a market of almost 220 million people and contribute almost 60 per cent of Latin America’s global trade.
India has a thriving plastics industry which has expanded at 8 per cent CAGR over the last five years to reach 8.5 MnTPA and Indian companies have emerged as world class plastic manufacturers serving not just the household consumer durables and packaging sector but also infrastructure, healthcare, agriculture, automobiles and electronic goods.
This event, constituted 11 years ago offers an opportunity for Indian industry to interact with all the stakeholders of the global plastic industry at the EXPO PLAST PERU. The India Pavilion in this show will be a huge opportunity for Indian companies to develop business linkages and enhance their global presence.
