Plastic trade between Mexico and India is expected to increase.
Compared with the same period in 2016, bilateral trade (including plastic products) between Mexico and India increased by 31% in 2017. This figure was released on November 7 by the Commercial Counselor of the Indian Embassy.
In the plastics machinery exhibition site of 2017 in Mexico, Indian Business Counselor Ann Siwani Kumar said in an interview with Plastics News that the bilateral trade volume between the two countries was 6.3 billion U.S. dollars in 2016 and India's trade surplus was about 2 billion U.S. dollars Mexico exports about 2 billion U.S. dollars to India, while India exports 42.8 billion U.S. dollars to Mexico.
Indian Ambassador to Mexico Mugadishu K. Paddy said in an interview on a separate occasion that the trade volume between the two countries this year "may exceed 8 billion U.S. dollars."
According to data provided by the PLEXCONCIL in Mumbai, Indian exports to Mexico averaged an increase of 32.5% over the previous decade, according to a statement released by the Society: "Over the past five years, India's exports of plastic products to Mexico Exports have grown rapidly and have grown from $ 51 million between 2012 and 2013 to $ 97 million between 2016 and 2017. "PLEXCONCIL said that from 2016 to 2017, plastic exports to more than 210 countries and regions in India, total exports Reaching 7.6 billion U.S. dollars. The major export markets include the United States, China, UAE, Germany, Italy and the United Kingdom.
Plastic exports in India amounted to 706.44 million U.S. dollars in August 2017, an increase of 14% from the 619.82 million U.S. dollars in the same period of last year. From April to August 2017, the exports of plastic products were 3.355 billion U.S. dollars, The value of exports was 31.01 billion U.S. dollars, an increase of 8.2%.
Ambassadors and Counselors Visited Plastics Union of Mexico at United India Booth with 24 Indian Companies Participating in the Exhibition They interviewed Plastics Press They said: 'We believe the plastic industry in India has good Potential for growth. "Rajadese, India's plastics finance minister, said: 'We have many affordable new technologies.' The Indian Plastics Foundation will be hosting the Indian Plastics Show in Gandhinagar, India next February .
Both Ambassador and De Saye have said that the Indian government will invite a number of Mexican companies to India to attend the plastics fair and pay corresponding travel and accommodation expenses. "De Mexico said that Mexico is India's plastics trade's largest trading partner in Latin America.
PLEXCONCIL has participated in Mexico Plastics Machinery Fair four times, according to the promotion will be revealed that the plastics industry is one of the fastest growing industries in India, India has more than 30,000 plastics processing enterprises, employing more than 4000000. About 200 more plastic machinery Companies, different technical levels, annual sales of about 3,000 plastic machinery.
Paphos Patel, International Business Manager of Pigment supplier Advaitya Dye-Chem, one of 24 exhibitors in India, also said that Mexico's plastics industry is growing very fast, saying: 'We entered about two and a half years ago Mexico, already has three or four customers and our goal is to grow to 10 to 12 customers in the next year and a half. "The company's customers are mainly masterbatches and industrial ink suppliers with operations in ten countries, including Brazil and Mexico