 "Plastics consumption in India to reach 20 mn TPA by 2020")
Indian plastics industry is set to buck the global trend of sluggish growth by emerging as one of the fastest growing markets with 12 percent growth rate this year. By 2020, plastics consumption of the country is expected to increase from the current 12 million metric tonnes per annum (MMTPA) to 20 MMTPA. India will deploy 180,000 machines by 2020 as compared to the current 113,000, according to Plastindia Foundation, which will organise Plastindia 2018 event in Gujarat from February 7-12, 2018.
Government initiatives such as Make in India, Skill India, Digital India, Swachh Bharat Abhiyan, etc are opening up opportunities for even more accelerated growth in this industry. Plastics industry would also contribute in a big way in the success of all such programs. For example, take the Digital India program. Plastics are one of the major component required in the electronic gadgets, which are mostly imported at present in the country. In the next 5 to 10 years, most of the products in the electronics industry are proposed to be made in the country, thus reducing imports from China & other countries and India emerging as a major sourcing hub.
“Smart cities, rapid urbanisation, increase in sale of packaged products through retail and e-commerce mode, low per capita consumption, shifting consumer lifestyles, large young population, majority of population of middle income group, many manufacturing segments adopting higher percentage of plastics, etc are contributing towards the growth of plastics industry. Indian Plastics industry has geared itself to take up the challenges of quantitative and qualitative growth for serving the nation and its citizens and also to take the country to a higher growth path,” said K K Seksaria, president, Plastindia Foundation, at the formal launch of Plastindia 2018.
The export of plastics finished goods is expected to nearly double from $ 7.9 billion currently to $15 billion in next 5 years. “It seems that the centre of gravity is rapidly shifting to India due to the opportunities here. India is the world’s next plastic destination by virtue of both, its sheer size and tremendous growing domestic demand. The industry is determined to play a significant role in executing government’s vision of raising exports to $900 billion by 2020,” said Rajeev Chitalia, chairman of National Executive Committee (NEC), Plastindia 2018.
With an intend to bring the entire Indian plastics industry together, Plastindia 2018 is expected to witness participation from about 2000 exhibitors including 600 companies from across 40 countries. The event will cover trends of re-engineering manufacturing processes using 3D printing, robotics, automation, digital technology etc.
Accelerated globalisation, rapid change in technology and growing consumerism have brought with it sweeping changes and abundant opportunities in the packaging industries, resulting in innovative plastic packaging products, which are lighter in weight, durable and cost effective. “Going ahead recycling and reuse of plastics could be a foremost step towards fostering innovation and sustainability,” said Plastindia Foundation in a press release.
Moreover, Plastindia 2018, for the first time, will feature exclusive pavilions for the new and emerging sectors such as plastic composite, 3D printing, robotics, etc that are going to redefine the future of plastics.