The country's export of plastics finished goods is set to nearly double to USD 15 billion in the next five years from the present USD 7.9 billion, according to a top official from the plastics industry.
"The export of plastics finished goods is set to nearly double to USD 15 billion in next five years. The country exports USD 7.9 billion worth plastics finished goods. The industry is determined to play a significant role in executing government's vision of raising exports to USD 900 billion by 2020," Plastindia Foundation president K K Seksaria told reporters after the formal launch of 'Plastindia 2018' here today.
Plastics is one of the fastest growing industries in India witnessing a double digit growth rate annually, on an average.
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Initiatives like Make in India, Skill India, Digital India, Swachh Bharat Abhiyan and Start up India by government are opening up opportunities for even more accelerated growth in this industry, Seksaria said.
The domestic plastics consumption is also set to increase from the current 12 million metric tonnes per annum to 20 million metric tonnes per annum by 2020 due to rapid growth of infrastructure, agri and automobile sectors.
By 2020, plastics consumption in India is set to increase from the current 12 million metric tonnes per annum to 20 million metric tonnes per annum.
India will deploy 1,80,000 machines by 2020 as compared to the current 1,13,000, Chairman of National Executive Council, Palstindia 2018, Rajeev Chitalia said.
Indian plastics industry is geared up for 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, Seksaria said.
'Plastindia 201 8- 10th International Plastics Exhibition & Conference', will be held in February 2018 at Gandhinagar in Gujarat. About 2,000 companies including 600 from across 40 countries would display their products, technologies and innovations.
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