NEW DELHI: Export of plastics, chemicals and forest products holds a huge potential for domestic players in the global market, which stands at over USD 2,000 billion, a senior official today said.
India's export of these products accounts for less than two per cent in the international market.
Announcing a three-day exhibition of these products in Mumbai in March, Joint Secretary in Department of Commerce Shyamal Misra said such events help promote shipments of these goods.
Last year, such exports aggregated at USD 36 billion and so far this fiscal, shipments of these sectors have recorded a growth of about 12 per cent.
"There is a lot of scope and potential to boost exports of these sectors. The exhibition will help the industry look for new markets and buyers," he told reporters here.
The event CAPINDIA 2018 is jointly organised by four export promotion councils - shellac & forest products (SHEFEXIL); plastics (PLEXCONCIL); basic chemicals, cosmetics & dyes (CHEMEXIL), and chemical and allied items (CAPEXIL).
About 700 exhibitors, 400 overseas buyers from 30 countries and 10,000 visitors are expected to attend the event.
The exhibition is one of the largest sourcing and networking events for chemicals, plastics, construction and mining industries. Gujarat is the state partner for the event.