Plastic industry asked to generate Rs 10 lakh Cr revenue by 2027

Dec 7: Shri Piyush Goyal today asked the Plastic manufacturing industry to aim to increase their turnover to Rs 10 lakh crore from present level of 3 lakh crore in next 5 years. He said that huge potential exists to increase the manufacturing of plastic machinery in India and reduce dependence on Imports.

Shri Piyush Goyal, Minister for Commerce & Industry, Textiles and Consumer Affairs & Food and Public Distribution was reviewing the functioning of plastic industry in the country and heard the views and suggestions of industry stakeholders for further boosting the performance and potential of the sector.

Speaking on the occasion Shri Goyal said that plastic industry is one of the biggest generator of employment in the country. It should now also aim to double the employment as well in five years time with the expected increase in turnover.

Shri Goyal asked the plastic industry participants to focus on quality. The Minister added that dependence on using second hand machinery is not the way forward. A less than good quality machinery would only produce substandard products. In order to compete globally,  world class machinery needs to be used for all kinds of production . He said that the BIS would set up labs wherever needed to ensure best possible testing of plastic materials.

Shri Goyal said we all need to ensure that MSMEs get assured supply of raw material to compete and grow. Maximum support from all stakeholders needs to be given to MSMEs as they generate huge employment and support millions of livelihoods. He asked the industry to commit to create capacities to produce the best in India. This would add muscle to India’s Atmanirbhar Bharat Mission as well.

The meeting was attended by 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 besides senior officers of  the Govt. of India from the concerned Ministries.

Shri Goyal told the participants that Centre is committed to the holistic and sustainable growth of the sector.

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