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Plastindia: exports of plastic products to double in 5 years

by ChemOrbis Editorial Team -
  • 13/09/2016 (05:36)
According to Plastindia Foundation, who is launching Plastindia 2018, India’s exports of finished plastic products will double in five years to a value of $15 billion. They note that India will buck the global trend of sluggish growth by being one of the fastest growing markets at 12% this year. Rajeev Chitalia, chairman of National Executive Committee (NEC) for Plastindia 2018 said, “It seems that the centre of gravity is rapidly shifting to India due to the opportunities here. India is the world’s next plastic destination by virtue of both, its sheer size and tremendous growing domestic demand. The industry is determined to play a significant role in executing government’s vision of raising exports to $900 billion by 2020,”

They also expect India’s plastics consumption to increase from 12 million tons/year to 20 million tons/year by 2020. They attribute this to numerous government incentives promoting domestic industry, all of which will boost plastics consumption in different ways. They estimate that India will deploy 180,000 machines by 2020 compared to 113,000 currently in use.
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