Ghaziabad, February 10: The much-anticipated India-US trade deal is set to open floodgates for Indian plastic exporters, providing a golden opportunity to capture a larger slice of the massive American plastics market. Industry leaders are optimistic that this agreement will propel India’s exports to new heights.
Speaking exclusively to IANS, Arvind Goenka, Managing Director of RMG Polychem India Limited, highlighted the transformative potential of the deal. ‘This trade agreement will unlock the vast US market for our domestic plastic exporters,’ he stated emphatically.
Goenka pointed out that the US imports approximately $75 billion worth of plastics annually, while India’s current exports to the US stand at a modest $2.2 billion. ‘This deal presents a prime chance for Indian companies to double their exports to America in the coming years,’ he added.
The executive emphasized America’s role as a major buyer of PVC (Polyvinyl Chloride) products. Increased purchases from India could pave the way for re-exports to other global markets, enhancing the international reputation of Indian plastic products.
Beyond immediate export gains, Goenka believes the deal will position India as a reliable global supplier. With America’s $30 trillion economy and 340 million affluent consumers demanding high-quality goods, Indian manufacturers will upgrade their production standards to meet these expectations.
This quality upgrade won’t just benefit exports; it will also improve domestic products available to Indian consumers, creating a win-win scenario.
Goenka drew attention to the ripple effects: Products accepted in the demanding US market automatically gain credibility in regions like the Gulf, Europe, and Russia. As India strengthens trade ties with America, it will simultaneously boost exports to these other key markets.
Industry experts see this as a strategic moment for India’s plastics sector to establish itself on the global stage, leveraging the India-US trade momentum for sustained growth.