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The Indian plastics industry manufactures and exports a diverse range of raw materials, plastic-moulded extruded goods, polyester films, moulded/soft luggage items, writing instruments, plastic woven sacks and bags, polyvinyl chloride (PVC), leather cloth and sheeting, packaging, and other products.
Plastics is one of India’s fastest developing sectors, with enormous potential in terms of capacity, infrastructure, and trained labour. Since its beginning , India’s plastic industry has achieved great strides.
The Indian plastics business is developing at one of the fastest rates in the world, with plastics consumption increasing pace.
India is now listed among the top five worldwide polymer users, with over thousands of plastic processing plants employing over million people across the country.
The INDIA PLASTICS MARKET accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
India is the first Asian country to sign the Plastics Pact.
The India Plastics Pact, which was launched today, is a collaborative endeavour aimed at bringing together corporations, governments, and organisations to establish time-bound commitments to decrease plastics in their value chains.
The Pact is anticipated to bring together national leaders in the plastics industry to make pledges toward the development of a circular plastics system. The Pact imagines a society where plastic is valued and does not contaminate the environment.
The Pact is said to encourage innovative new business models that will minimise the total quantity of plastic packaging.
It will also contribute to the development of a more robust recycling system, guaranteeing that plastic packaging can be properly recycled, converted into new goods, and returned to packaging with the cooperation of all stakeholders.
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