A landmark India-US trade agreement promises to reshape India’s position in the global plastics trade, particularly targeting the lucrative American import market valued at $75 billion yearly. Experts predict a significant surge in India’s market share.
In an insightful interview, RMG Polychem India Limited’s MD Arvind Goenka explained the deal’s implications. Currently, India supplies just $2.2 billion worth of plastics to the US—a fraction of the potential. ‘The agreement creates unprecedented access, potentially doubling our exports soon,’ Goenka forecasted.
America’s appetite for PVC and other plastics makes it an ideal partner. As US purchases grow, Indian products could be re-exported worldwide, building brand equity and opening doors to premium markets.
Goenka underscored America’s economic might: a $30 trillion GDP supports 340 million consumers with high purchasing power and discerning tastes. Catering to these standards will force Indian firms to elevate quality across the board.
The domestic ripple effect is equally compelling. Enhanced manufacturing capabilities mean better products for Indian buyers too, democratizing access to superior goods.
Strategically, US market entry acts as a global endorsement. ‘Once a product passes American scrutiny, Gulf nations, Europe, and Russia embrace it readily,’ Goenka noted. This credibility multiplier will amplify India’s trade footprint beyond North America.
For the plastics industry, this isn’t just about numbers—it’s about graduating to the premier league of international suppliers, with long-term competitive advantages secured through the India-US partnership.