This year our country's injection molding machine will have a new low for Indian exports.
China Drying Network Despite the huge potential of India's plastics industry, plastic products imported directly from China, including plastics processing equipment, have not been large, and even have recently experienced a sharp decline. Recently, the Indian Federation of Industry and Commerce said that the Indian plastics industry is growing at a compound annual growth rate of around 20%. However, in the first half of this year, China's direct injection molding machines exported to India fell sharply by 37.7%.
Before 2009, China's direct export to India accounted for nearly 30% of India's market, but since May 2009, India's export to India has been between 40 tons and 1,000 tons. All models of injection molding machines levy provisional anti-dumping duties, ranging from 76% to 223%. In spite of this, the amount of Chinese injection molding machines exported to India is still increasing, but the rate of growth has been greatly reduced.
Figure 1: China's Export of Injection Molding Machines to India, 2009-2012 Unit: Million US Dollars
However, this growth trend seems to have made a big turn this year, especially since March of this year, the amount of exports has dropped sharply, the decline rate has exceeded 50%, and the monthly export amount since April is less than 1 million US dollars. The sharp decline has not been seen for at least the past five years. Judging from the current trend, China's injection molding machine exports to India in 2013 will total less than 16 million US dollars, that is, will be low in 2009 levels, hit a new low of nearly five years.
Figure 2: Comparison of China's injection molding machine exports to India in the first half of 2013 compared to the same period last year Unit: 10,000 US dollars
For the current situation, Ms. Zhao Xuemei, marketing manager of Guangdong Yizhimi Precision Machinery Co., Ltd., said that this may be related to India's upcoming election. At present, Izumi’s technical center in India is currently in the research stage. In the next one to two years, India may choose to build Iraq’s overseas production base. Manager Zhao told the author that before and after the election in India, China’s manufacturing industry may have a certain impact on India’s exports. At present, Iraq’s direct exports to India through China Customs are few, and India’s anti-dumping measures against Chinese injection molding machines are also added. Policy, China's injection molding machine is difficult to enter the Indian market directly.
As for India's anti-dumping policy on Chinese injection molding machines, Mr. Zhu Kangjian, chairman of Bochuang Machinery Co., Ltd., also stated that it has a great impact on the export of Chinese injection molding machines. At present, most of the Chinese injection molding machines are exported to Taiwan, Vietnam, Malaysia, and other customs. Re-export completed. Since Malaysia and India have signed a “free trade agreement†with a tariff advantage, many Chinese manufactured products have been resold into the Indian market through Malaysia. However, recently the Taiwanese side is also negotiating with the Indian side on a free trade agreement. Mainland products will have the opportunity to enter the Indian market through Taiwan.
In addition, Mr. Zhu Kangjian told the author that India's anti-dumping policy on injection molding machines that came into force in 2009 will expire this year. It is not yet known whether the anti-dumping duties on Chinese injection molding machines will continue to be imposed in the future because the government has been levying an anti-dumping duty on Chinese injection molding machines. L&T Plastic Machinery Co., Ltd. was acquired by Japanese company Toshiba Machinery at the end of last year, and the relevant Chinese government agencies and presses associations will also come forward to negotiate anti-dumping issues.
In addition to anti-dumping issues, the economic problems facing India will also have an adverse impact on China’s exports on the eve of the election. On the one hand, a weak rupee further pushes up the prices of imported products and further weakens the competitiveness of imported products. On the other hand, India's domestic economic growth slows down and inflation remains high, which is detrimental to investment and purchasing power.
In short, the two issues that will play a key role in the future of Chinese injection molding machines for printing and exporting are whether the authorities can change their current economic situation after the anti-dumping policies and general elections. The general election is only a matter of stages after all. In contrast, if India cancels China's injection molding machines levying anti-dumping duties will directly and more quickly promote the export of injection molding machines in China.
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