New Delhi, Feb 11 || The India-US trade deal has brought a major business opportunity for domestic plastic exporters, which will help the country increase its share in the US plastics market, according to industry leaders.
Arvind Goenka, Managing Director (MD) of RMG Polymers India Limited, said, "The India-US trade deal will open up a large US market for domestic plastic exporters."
He further said that the US imports plastics annually are worth around $75 billion. Currently, India's plastic exports to the US are about $2.2 billion.
“Therefore, this agreement is a golden opportunity for Indian companies to increase exports. Our plastic exports to the US could double in the next few years,” he mentioned.
He further added that the US is also a major buyer of PVC (polyvinyl chloride). If the US purchases plastic and PVC products from India in large quantities, these goods will be exported to other countries as well. This will give Indian products a new identity in the global market, said Goenka.
According to his, this agreement will not only prove beneficial for the plastic industry but will also help establish India as a strong and reliable supplier.