Increase the Turnover of Plastic Industry to Rs.10 Lakh Crore in Next 5 Years: Piyush Goyal

09 December 2021: Piyush Goyal has 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.

Speaking on the occasion 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.

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.

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.