The plastic industry in India ranks among the world’s largest and sophisticated. It employs around 40 lakh Indians and comprises an estimated 2000 exporters and 30,000 processing units. Approximately 85 to 90% of these units are SMEs – some of which produce world-class products that are exported to the farthest regions of the world.
The extent of the success earned by India’s plastic industry can be gauged from the appreciation received through the Honourable Minister of Consumer Affairs, Food and Public Distribution Shri Piyush Goyal. While addressing a gathering at a recent event, he acknowledged India’s position to become the world’s leading supply hub for the plastic industry. He appealed to India’s plastic industry to aim for a target of Rs. 10 lakh-crore by expanding export and domestic markets and through import substitutions.
India’s Plastic Industry: A Success Story
Indeed, India’s plastic industry is on a roll. We achieved exports of $13 billion during the 2021-22 period through a growth of 30%. An export target of $25 billion* for 2025 seems within our grasp.
The success of India’s plastic industry is not surprising or new-found. Ever since the industry was founded in India with the manufacturing of polystyrene in 1957, it has diversified and grown rapidly. Indian plastics or their derivatives have played a significant role in diverse sectors such as Healthcare, Agriculture, Transportation, Electronics, Construction, Packaging and Machinery. These industries will continue to rely on plastics for their core activities for years to come.
The preferred choice globally
The remarkable strides made by the industry has made India the preferred choice by global firms for a diverse range of products such as polyester films, plastic-woven bags and sacks, laminates, packaging and sheeting material, and lots more.
The credit for India’s global appeal goes to the widespread domestic availability of raw materials. This ensures that Indian plastic manufacturers and processors can rely internally for plastic raw materials instead of imports. Thus, India has become the premier globally sourcing hub for polypropylene, low-density polyethylene, high-density polyethylene and PVC.
Stakeholders in India’s plastic industry are always on the lookout for export buyers to partner with. They either find them through trade fairs and exhibitions or through Government bodies such as Export Promotion Councils. Meanwhile, global players are also keen on partnering with the right plastic manufacturers in India. The perfect meeting point for both parties is PLASTIVISION 2023, which will be held from December 7 to 11, 2023 at Bombay Exhibition Center, Goregaon, Mumbai.
Held regularly since 1992, PLASTIVISION is hosted by India’s oldest organisation for plastic manufacturers – The All India Plastic Manufacturer’s Association. PLASTIVISION offers organisations the platform to launch and display new products, expand their network, learn about new technologies and exchange insights on a global scale. Today, PLASTIVISION is ranked among the top 10 events in the plastic industry globally.