Plastic industry in India is growing day by day

India has proved to be one of the leading exporters of the plastic products among all other countries of the world.  The plastics industry of India exports and also produces variety of ranges  raw materials, plastic molded goods, polyester films, laminates, soft luggage items, writing and instruments. There are also plastic woven sacks and bags, PVC leather cloth and sheeting, packaging, consumer goods, sanitary fittings, electrical accessories, laboratory or medical surgical ware and travel ware, among other products are also some of the different varieties. Thus the plastics news India is seen to be growing day by day.

The Plastics Export Promotion Council is the apex government body for the promotion of exports by the Indian plastics industry. The members of the council comprise large/medium/small-scale manufacturers and exporters. It facilitates exporters through various export promotion activities such as participating in international trade fairs, exploring newer markets, organizing buyer seller meets both in India and overseas, and other need based activities.

The plastics news portal has taken great strides. In the last few decades, the industry has grown to the status of a leading sector in the country with a sizable base. The material is gaining notable importance in different spheres of activity and the per capita consumption is increasing at a fast pace. Continuous advancements and developments in polymer technology, processing machineries, expertise, and cost effective manufacturing is fast replacing the typical materials in different segments with plastics. 

On the basis of value added, share of India's plastic products industry is about 0.5% of India's GDP. The exports of plastic products also yield about 1% of the country's exports. The sector has a large presence of small scale companies in the industry, which account for more than 50% turnover of the industry and provides employment to an estimate of about 0.4 million people in the country. Approximately 100 billion are invested in the form of fixed assets in the plastic processing industry. Currently, the Indian plastic industry is highly fragmented with an estimate of around 25,000 firms and over 400,000 employees. The top 100 players of Indian plastic industry account for just 20% of the industry turnover. Barring 10 to 15% of the firms that can be categorized as medium scale enterprises, most of the units operate on a small – scale basis. 

The immense potential of Indian plastic industry has motivated Indian manufacturers to acquire technical expertise, achieve superior quality standards and build capacities in different facets of the booming plastic industry.