Issue 16 2012-02-23 Subscribe Now

Insight of India Plastic Industry

Earlier quote from the president of Plastindia Foundation- Ashok Goel, he said, “The Indian plastic processing sector needs to consolidate, reap economies of scale and become competitive. The key to achieve this is modernising processing facilities, improving labour productivity and enhancing exports. On the other hand, the industry also needs to pull up its socks where recycling of plastics is concerned – quality standards need to be laid down for the recycling sector in India and compliance needs to be ensured” According to this, we might assume that India market is indeed growing so fast, but need some times to make it better.

Look to the past, plastics industry has been one of the major sources of economic growth of India; in the future, this situation will be carried on with confidence that many people believe. The industry has shown that many efforts it has made for the promise to reach at the zenith of its success across the world. The most important factors behind this accomplishment are the entrance of modern equipments, adequate presence of natural resources and the skills of Indian professionals in the field.

The India plastic industry has been symbolizing as a promising industry and creating new employment opportunities for the people of India. In fact, the per capita consumption of plastic products in India is growing and moving towards 2.5 times GDP growth. This potentiality of the market will surely actuate the entrepreneurs around the world to invest in this thrilling industry.

Look to the future, as India government is trying to set up the economic reforms to elevate and boost the plastic industry by measures as joint venturing, foreign investments… and entrepreneurs are trying to provide high quality plastic products to make the industry become a really booming one in history. In figures, the Indian plastics industry has been growing at a rate of 12% over the years and with its true potential harnessed, it is all set to reach the 12.5 MMT by consumption making India the 3th largest consumer of plastics by 2012 on the globe. Let’s respect the efforts and expect the fruitful turnover brought by India market now and in the near future.