Demand for plastics to double in six years, according to AIPMA
The demand for plastic products will more than double in 5-6 years with increasing order from various sectors such as agriculture, automobile, engineering, packaging, infrastructure and healthcare, according to the industry projection.
To cater to these demands, industry players were investing in technology and seeking investment, said top officials of the All India Plastics Manufacturers’ Association (AIPMA).
According to the association, India is now consuming about 8.10 million tonnes of polymers, and this would go up to 20 million tonnes in 5-6 years.
“The per capita consumption of plastic in India is 8.5 kg, whereas the world average is 25 kg. In the developed countries, the per capita consumption is 100 kg. Now that lot of emphasis is given on packaging, and demand is coming from several new sectors, the demand for plastic is to go up sharply, and we are getting ready for this,” said Raju Desai, Chairman of Plastivision India 2013, a trade show that the AIPMA is organising later this month.
“The plastics industry is one of the biggest contributors to GDP with the growth rate of 15 per cent annually. The industry has over 50,000 manufacturers, and employs of over 40 lakh workers. We appeal for Technology Upgradation Fund (TUF)-like status for the industry from the government. Besides, we need uninterrupted power supply and finances at attractive rates from banks,” said Anand Oza, President, AIPMA.
He further added that the AIPMA had also appealed to the government for special Plastic Parks across the country tohelp the industry flourish more. “The AIPMA envisages an additional investment of Rs.25,000 crore, including SMEs, which will help the industry in a big way. At present, Plastic Parks are taking shape in Haryana, Rajasthan, Gujarat, M.P., Karnataka and Kerala,” he added.