INDIA – GUEST OF HONOUR AT SEVENTH EXPOPLAST IN LIMA, PERU FROM 3 to 6 May 2016
The Federation of Indian Chambers of Commerce and Industry (FICCI) is leading a delegation of 48 leading plastic manufacturers from India across sectors, including products, raw materials, equipment and accessories and auxiliary teams and peripheral companies at the 7th EXPOPLAST in Lima from 3 to 6 May 2016. EXPOPLAST PERU, the international exposition in the plastics industry sector, serves as a gateway to the plastic industry and related sectors of Peru, one of the fastest growing economies in Latin America. Peru is ranked 42nd globally and 3rd amongst Latin American countries in terms of ease of doing business. Indian companies can leverage on Peru’s various Free Trade Agreements and alliances which gives easy access to the entire Latin American region and specifically to the Pacific Alliance countries which offer a market of almost 220 million people and contribute almost 60 per cent of Latin America’s global trade. For Indian companies the EXPO PLAST PERU is an opportunity to benefit from Peru’s $ 2.5 billion market for plastics and allied products which meets most of its needs through imports.
The ´´INDIA PAVILLION´´ ensuring ¨Quality Plastics for the World¨ is being set up by FICCI in association with this Embassy and is part of the Market Access Initiative of the Ministry of Commerce & Industry, Government of India. Mr. Sandeep Chakravorty, Ambassador of India to Peru and Bolivia inaugurated the INDIA PAVILLION. FICCI´s efforts in this sector have been augmented by presence also of representatives of Organization of Plastics Processors of India (OPPI). Large corporate houses Xpro, Chiripal Group and the National Plastics Industry are also supporting the initiative of FICCI to reach out to the business community in this part of the world. The National Society of Industries, Committee of Plastics, Peru (SNI) and the Association of Plastics Industry of Peru (APIPLAST) have also joined this Embassy and FICCI to work together for close interaction of the Indian companies with their Peruvian counterparts. During the three day event, FICCI will be signing MoUs with the Lima Chamber of Commerce, the largest trade body of over 15,000 members and the newly formed Indian Chamber in Peru (INCHAM). OPPI will also be entering into an agreement for cooperation with APIPLAST in the plastics sector and exploring new avenues to further trade in this sector. India and Peru are currently also working on a Free Trade Agreement (FTA) to take the bilateral trade to new levels from the current level of US Dollars 1.5 billion.
India has a thriving plastics industry which has expanded at 8 per cent CAGR (compound annual growth rate) over the last five years to reach 8.5 MnTPA and Indian companies have emerged as world class plastic manufacturers serving not just the household consumer durables and packaging sector but also infrastructure, healthcare, agriculture, automobiles and electronic goods.
May 3, 2016