GSP withdrawal: Plastic exporters explore new markets to keep ball rolling

Eye huge markets in CIS nations, Africa and Latin America, where Indian exports have a negligible presence

Fearing a decline in exports due to the withdrawal of the generalized system of preferences (GSP) by the United States in June this year, Indian plastic exporters are exploring new markets including CIS nations, Africa and Latin America to promote sales there.

The perennial markets, including the United States and China, are facing their own issues. Apart from the ongoing trade war between them, the US’ withdrawal of GSP benefit to India and the ongoing economic slowdown in China are expected to slow India’s plastic exports to these countries, which cumulatively contribute nearly 30-35 per cent of India’s overall plastic