Plastics finished goods exports to double at USD 15bn in 5 yrs

Mumbai, Sep 9 (PTI) The country’s export of plasticsfinished goods is set to nearly double to USD 15 billion inthe 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 tonearly double to USD 15 billion in next five years. Thecountry exports USD 7.9 billion worth plastics finished goods.The industry is determined to play a significant role inexecuting government’s vision of raising exports to USD 900billion by 2020," Plastindia Foundation president K K Seksariatold reporters after the formal launch of ‘Plastindia 2018’here today. Plastics is one of the fastest growing industries inIndia witnessing a double digit growth rate annually, on anaverage. Initiatives like Make in India, Skill India, DigitalIndia, Swachh Bharat Abhiyan and Start up India by governmentare opening up opportunities for even more accelerated growthin this industry, Seksaria said. The domestic plastics consumption is also set toincrease from the current 12 million metric tonnes per annumto 20 million metric tonnes per annum by 2020 due to rapidgrowth of infrastructure, agri and automobile sectors. By 2020, plastics consumption in India is set toincrease from the current 12 million metric tonnes per annumto 20 million metric tonnes per annum. India will deploy 1,80,000 machines by 2020 ascompared to the current 1,13,000, Chairman of NationalExecutive Council, Palstindia 2018, Rajeev Chitalia said. Indian plastics industry is geared up for thechallenges of quantitative and qualitative growth for servingthe nation and its citizens and also to take the country to ahigher growth path, Seksaria said. ‘Plastindia 201 8- 10th International PlasticsExhibition & Conference’, will be held in February 2018 atGandhinagar in Gujarat. About 2,000 companies including 600from across 40 countries would display their products,technologies and innovations. PTI AP ARS JMPTP