With the huge market potential available in the domestic market, the USD 40 bn plastic industry today sought the Centre's nod to provide Technology Upgradation Fund and set up plastic parks in the country.
"We are actually pushing for the Technology Upgradation Fund (TUF) and to establish Plastic Parks to encourage (plastic industry) it in the country," Plastics Export Promotion Council Vice-Chairman G Sudhakar told reporters here.
He said the size of the plastic industry was USD 40 billion last year and exports contribute about USD 4.2 billion.
"There is a huge opportunity in the domestic market itself. We are asking the Government to come out with some sort of policy initiatives to the industry," he said.
Asked if the Council planned to approach the Centre in this regard, later he told PTI: "Yes. We will be submitting our report to the Commerce Ministry before this month end".
Sudhakar said 64 per cent of plastics shipped from India were finished goods and the remaining 36 per cent polymers.
On the 12th edition of the ARABPLAST 2015, scheduled to be held in Dubai between January 10 and 13, 2015, AI Fajer Information and Services, General Manager, Satish Khanna said over 150 Indian participants are expected to participate in the event.
"Last year about 120 Indian businessmen took part.In this edition we are expecting more than 150. China is the leader in the plastic exports followed by Europe and United States.By 2015,India would become third largest plastic consumer", he said.
