Our Indian plastic industry has had a remarkable effect on our economy during the post liberalisation period. There are two dominant factors which are responsible for bringing in rapid changes with the opening of our economy. These are: competitive pressures and quality demands.
With the reduction in tariff barriers, the imports have become easier compelling some of the pioneers in the petrochemical sector viz. ICI, Polychem, Carbide, Century Enka and even Nocil and Polyolefins to play a insignificant role in the polymer market in India.
And now the new state-of-the art plants like Reliance, Finolex, IPCL and Supreme Ind. have helped each of these companies to capture large market shares for the polymers they produce. These four companies have virtually become dominant players in the Indian market. One could never have imagined this to happen in the late eighties through to the year 1992 until the Indian economy started opening up.
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Similar is the trend amongst the plastic processing industries. New giants are emerging like Flex Ind., Cosmo Films, Jain Pipes, Pearl Pet, Royal Vinyls, Sintex, Paharpur Ind., VIP luggage etc. leaving behind old names like Bhor, Dharampur Leather Cloths, Garware Nylons etc. apart from a few thousand other small units.
The slow pace of modernisation and expansion in the last 5 to 10 years has resulted in near extinction of old pioneers due to more reliable quality products and very competitive prices demanded by users with the opening up of the economy. The buyers turned out to be demanding since they have option to alternatives which were never possible during the old