Plexconnect 2023 Generates $16.1 million worth of inquiries, $5.3 mn worth deals finalised, gets 7,000 trade visitors
MUMBAI, June 29 (The CONNECT) - India’s first ever export-focused international plastics exposition Plexconnect 2023, organised recently, has rebooted the business momentum and showcased many cost and energy saving innovations.
The event has generated business inquiries valued at over $16.1 million, while deals valued at about $5.3 million were finalised. Several foreign country delegations expressed their interest in continuing their business with India.
Organised by Plexconcil, Plexconnect 2023 has been billed as the most anticipated event in the plastics industry.
Minister of State for Commerce and Industry Anupriya Patel was the chief guest, while Santosh Sarangi, Addl. Secretary & DGFT, was the guest of honor.
More than 400 buyers from across 51 countries participated in the RBSM (reverse buyer seller meets), while around 25 companies from Telangana, Tamil Nadu and Madhya Pradesh participated under the state pavilions at Plexconnect 2023. The Ministry of Micro, Small & Medium Enterprises had supported participation of 60 exhibitors.
Hemant Minocha, Chairman of Plexconcil expressed the confidence that the event will be a stepping stone for the success of the country’s plastics exporters, most of whom are MSMEs. Plexconcil held meetings with Country delegations from South Korea, Israel, Myanmar, Kyrgyzstan, Cameroon, Azerbaijan, Nepal and Uzbekistan and all of them evinced their interest in working more closely with Plexconcil to promote bilateral trade (in plastics) between India and their respective countries, Minocha said.
The ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.), wholly owned by the Government of India, also participated in Plexconnect 2023 with their different credit risk insurance and related services for exports and Export Factoring facility for MSME sector.
Sribash Dasmohapatra, Executive Director, Plexconcil, said the expo has been highly successful in connecting Indian Exporters with International Buyers. With the renewed enthusiasm, he was confident that the industry will take full advantage of the new FTA regime and the China+1 global business environment. In all 4,161 B2B meetings were held during the RBSM and both buyers and exporters expressed satisfaction with their discussions. “We hope these will lead to increased business opportunities for our exporters,” he said.
Among the innovations, Dasmohapatra explained that Zaveri Engineers showcased their latest processing technology, Grain Polymerization, which is the first of its kind with patents spanning the world and in India. Developed by Shailesh and Shrenik Zaveri, the processing reduces machinery cost by 70-85%, tooling cost by 85-90% and electricity cost by 65-75%. It is used to create a vast range of hollow products from decorative to utility and in large diameters.
In another innovation, V.K. Rain pipe Irrigation System introduced its smart and India’s first UV coated Rain Irrigation System. It has more life span than any other ordinary rain irrigation system. It is very easy to assemble and reallocate. It helps to reduce the consumption of energy and water by more than 50 percent. With the help of appropriate water pressure, This System can spray up to 10 to 15 feet on both sides.
The Central Institute of Petrochemicals Engineering & Technology (CIPET), premier national Institution functioning under the Department of Chemicals and Petrochemicals, Ministry of Chemicals & Fertilizers, Government of India also participated at Plexconnect 2023.
More than ten major trade associations participated in Plexconnect, 2023 which was also attended by over 7,000 trade visitors. PLASTINDIA Foundation, All India Plastics Manufacturers Association, Organisation of Plastic Processors of India, Gujarat State Plastic Manufacturers Association, Plastics Machinery Manufacturers Association of India, Indian Flexible Intermediate Bulk Container Association, All India Flat Tape Manufacturer Association, Karnataka State Plastic Association, Tamil Nadu Plastics Manufacturers' Association, Telangana and Andhra Plastic Manufacturers Association, Indian Plastics Federation, Indian Plastics Institute, Indian Institute of Packaging, Chhattisgarh Plastic Nirmata Sangha, All India Human Hair Exporters Association had put up their stalls at Plexconnect 2023 and supported in promoting the event through their members.
During Plexconnect 2023, the Free Consultants Clinic attracted the attention of many exhibitors and visitors wherein issues related with Customs/Logistic, DGFT, RBI/Bank and GST were resolved by subject matter experts.
Technical seminars held alongside the event also attracted huge attendance