A brief look at the plastic industry in India

The plastics market in India encompasses over approximately 25,000 companies, employing 3 million people. Gujarat is the leading state when it comes to being the top plastics processing hub, and has over 5000 plastics firms. Unknown to many, the Indian plastics industry has the highest growth in the world, with the consumption of plastic increasing at a rate of 16% per annum. In all likelihood, this trend will continue, thanks to the growing middle class and low per capita consumption of plastics. With India’s population being more than 1.15 million and the work force comprising 467 million, plastic raw material suppliers often have to face labour shortages. This in turn has led to increased investment in technology in the form of automation and conveyor belt systems, amongst others. The power deficit issue across the nation is yet another roadblock for plastics companies.

Prospects and problems-
The industry dates back to 1945 but has grown steadily since then. During the 1960s, there was an acceleration in the growth and ever since the liberalization of the Indian economy in 1991, it has achieved incredible growth and diversification. At present, it is considered to be at par with fast growing industries such as electronics, computers, and white goods. Plastic is one such thing that is required in some way or the other by all sections of society. It is considered to be of universal importance, especially amongst plastic exporters in India, due to the following qualities- its moulding capacity, its versatility, its non-corrosive and moisture-resistant properties, its physical and chemical strengths, its economic viability, easy processability, attractiveness and durability in all-weather conditions, etc. It find wide usage across several industries, be it packaging, building, manufacturing or pipes and fittings, electrical accessories, consumer goods, houseware, toys, furniture, etc. Let’s take a look at some interesting facts related to the plastics industry in India-

  • The sector provides employment to over 10 lakh people directly or indirectly.
  • The Central Institute of Plastics Engineering and Technology (CIPET) in Chennai was set by the government with the goal of developing skilled manpower and to provide technical services to the plastic industry.
  • Besides the headquarter in Chennai, CIPET had extension centres in various cities such as Ahmedabad, Amritsar, Bhopal, Bhubaneswar, Hyderabad, Imphal, etc.
  • Mumbai, Delhi, Kolkata, as well as Vapi, Bongaigaon, Barauni, Mettur, Duragpur, Rishra, etc. are some of the centres that are well-known for the production of either plastic raw materials or finished plastic goods.

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