Plastic exports may jump 20-25 % in FY22; govt support needed: PLEXCONCIL Chairman

Inverted duty structure refers to taxation of inputs at higher rates than finished products.

The country's plastic exports are expected to grow 20-25 % to $ 12 billion in the current fiscal year on account of favourable market conditions and increasing demand for domestic goods in key destinations such as the US and Europe, PLEXCONCIL Chairman Arvind Goenka said. The chairman of Plastics Export Promotion Council of India (PLEXCONCIL) also said though the order books of exporters are healthy, government support is needed in certain areas to further push exports as the sector holds huge potential to create jobs. "In 2021-22, we are expecting a growth of 20-25 % in exports. It should touch $ 12 billion from $ 9.5 billion in 2020-21. During April-May this fiscal year, we exported goods worth about $ 1 billion. Government support will help us in boosting the exports significantly," he told PTI.