Mumbai: Commerce and Industry Minister Piyush Goyal on Sunday exhorted the Indian plastics industry to aim at doubling exports, focus on sustainability and adhere to international standards.
In his address at an industry event here, the minister emphasised the need to continue to focus on the growth and global competitiveness of the sector by branding India as a high-quality and cost-competitive producer.
“MSMEs in the plastics industry have a delta of opportunity to grow and contribute to export growth,” Goyal said.
The minister presented the Plexconcil Export Excellence Awards 2023-25 to the deserving winners from the Indian plastics industry at the event.
India’s plastic exports reached $12.5 billion in FY 2024-25, recording an 8 per cent growth over the corresponding figure of $11.5 billion for the previous financial year.
Key exports include plastic raw materials, packaging items, and films, with growth seen in specific product categories like plastic films and sheets and packaging items.
The United States, China, the United Arab Emirates, and Germany are major export destinations, and the industry is focusing on increasing its global market share and improving supply chain efficiency.
The government is focusing on efforts to boost exports and competitiveness through quality improvement and supply chain streamlining.
Trade agreements with countries like the US, UK, and EU are expected to drive further growth. The industry is also targeting emerging markets in Africa, Latin America, and the Caribbean.
The plastics industry is present across the country and has more than 2,500 exporters. It employs more than 4 million people in the country and constitutes 30,000 processing units; among these, 85-90 per cent belong to small and medium enterprises.
India manufactures various products such as plastics and linoleum, houseware products, cordage, fishnets, floor coverings, medical items, packaging items, plastic films, pipes and raw materials. The country majorly exports plastic raw materials, films, sheets, woven sacks, fabrics, and tarpaulin. The Government of India intends to take the plastic industry $126 billion) in the next five years.
As many as 10 Plastic Parks have been approved in the country by the Department of Chemicals and Petrochemicals. Among these, six plastic parks have received final approval from the following states – Madhya Pradesh (two parks), while Assam, Tamil Nadu, Odisha and Jharkhand have each given clearance for one park. These parks are intended to boost employment and attain environmentally sustainable growth.
(IANS)
