Aim to increase the turnover of plastic industry to Rs 10 lakh crore from present level of 3 lakh crore in next 5 years - Shri Piyush Goyal

Mr. Piyush Goyal, Minister for Commerce & Industry, Textiles and Consumer Affairs & Food and Public Distribution, urged the Plastic manufacturing industry to target growing their revenues to Rs. 10,00,000 crore (US$ 130 billion) in the next five years from Rs. 3,00,000 crore (US$ 39 billion) currently. He further stated –

• Imports can be reduced by increasing the manufacturing of plastic machinery in India.
• Plastic industry is one of the biggest employment generator in India and has the potential to double the employment in the next five years on the back of increased turnover as expected.
• Industry participants should reduce dependence on using second hand machinery in order to focus on quality to compete globally. Labs could be set up by BIS to provide best possible testing of plastic materials.
• All stakeholders should provide maximum support to ensure MSMEs receive assured raw material supply to compete and grow.
• Industry should commit to increase capacities to produce the best in the country and add muscle to India’s Atmanirbhar Bharat Mission.

Heads of various Industry and Trade bodies of Petrochemical & Plastic sector like All India Plastics Manufacturers’ Association (AIPMA), FICCI, CII, Organization of Plastics Processors of India (OPPI), Process Plant and Machinery Association of India (PPMAI), PLEXCONCIL and Material Recycling Association of India and Senior Officers of the Government of India from the concerned Ministries attended the meeting.  

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