Aim to increase the turnover of the plastic industry to Rs 10 lakh crore from the present level of 3 lakh crore in the next 5 years – Shri Piyush Goyal

Shri Piyush Goyal interacts with plastic industry stakeholders for further boosting the performance and potential of the sector

Shri Piyush Goyal today asked the Plastic manufacturing industry to aim to increase their turnover to Rs 10 lakh crore from the present level of 3 lakh crore in the 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 the plastic industry in the country and heard the views and suggestions of industry stakeholders for further boosting the performance and potential of the sector.

Plastic industry should aim to double the employment – Shri Goyal

Speaking on the occasion Shri Goyal said that the plastic industry is one of the biggest generators 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 the best possible testing of plastic materials.

Shri Goyal asks the Industry participants to focus on quality; BIS would set up labs wherever needed to ensure best possible testing of plastic materials – Shri Goyal

Shri Goyal said we all need to ensure that MSMEs get an 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 creating 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 the 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.

MSMEs must get assured supply of plastic raw material

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

Disclaimer : This is an official press release by PIB.