India’s plastic exports to Pakistan suffer amid soaring tensions

• India's exports to Pakistan during the first six months of current financial year were down 33.29pc to $41.08mn.
• India’s overall plastic exports declined by 5.9pc to $4.32bn during April-September 2019.

India’s plastic exports to Pakistan have taken a serious toll amid the rising tensions between the two neighbors, as the plastic exports to the country have dropped by a staggering 91.3 percent year-on-year (YoY) in September.

As per Business Standard, India's exports to Pakistan during the first six months of current financial year were down 33.29pc to $41.08 million, as compared to $61.59 million recorded during the same period last year.

India’s plastic exports to Pakistan plunged to just $1mn in September 2019, from $11.5mn recorded in the corresponding month last year. During FY2018-19, India’s shipments to Pakistan were reported at $165.46 million and mainly consisted of raw material, woven sacks and flexible intermediate bulk containers (FIBCs).

On a cumulative basis, India’s overall plastic exports declined by 5.9pc to $4.32 billion during April-September 2019, from $4.59 billion in the same period last year. In September alone, India’s overall plastics exports plunged by 16.8 per cent to $649.17 million this year from $780.35 million last year.

“The decline in India’s overall plastics exports was led primarily by a significant fall in India’s raw material prices following a slump in crude oil. The decline in overall exports could be a temporary phenomenon,” said Makarand Appalwar, chairman and managing director, Emmbi Industries, one of India’s largest plastic exporters.