Economy India

1st Technology Conference for Growth of Plastic Industry

As per the mandate of Hon’ble Prime Minister, Shri Narendra Modi to reduce import dependence and become Atmnirbhar, The All India Plastics Manufacturers Association has conducted a detailed study on import of Plastic goods in the country. As per the study, plastic goods worth Rs. 37,500 crores were imported in 2022-23. 48% of this was from China. After detailed analysis, AIPMA has selected 550 plastics for import substitution. It is estimated that import substitution of plastic goods worth Rs. 37,500 crores would create additional requirement of around 4 Million Tons of Raw material per annum and 16,000+ plastics processing machines including Tools, Moulds, Jigs and Fixtures. It would also create 5 lakh additional jobs in the country.
AIPMA is organizing Six Technology conferences for Growth of Plastic Industry across the country with the objective of Import substitution of plastic goods. These conferences are supported by Ministry of Micro Small and Medium Enterprises, Government of India, Department of Chemicals and Petrochemicals, Government of India, Department of Commerce, Ministry of Commerce & Industry, Government of India. Main objective of these conferences are to help the industry in import substitution thereby helping them to manufacture “Make in India – Make for the World’ plastic products.
The Press conference was addressed by Mr. Mayur D. Shah, President, AIPMA and Mr. Arvind Mehta, Chairman-AIPMA Governing Council. Mr. Mayur D Shah said that the plastics industry is a major contributor to India’s economy by manufacturing goods worth 3.5 lakh crore annually. He stated that looking at the future potential, India can become the world’s premium supply hub. He said that the Indian plastic industry employs more than 5 million people in the country and constitutes 50,000 processing units; among these, 90% belong to small and medium enterprises. Mr. Arvind Mehta, Chairman, Governing Council, AIPMA said that the Government initiatives like “Digital India”, “Make in India”, and “Skill India” will also boost Indian Plastic industry. For instance, under the “Atmnirbhar’ initiative, the government aims to reduce the import dependence of products from other countries, which will lift the local plastic goods manufacturers. Mr. Arvind Mehta said that these 6 conferences would focus on technology and business opportunities for local plastics goods manufacturers as a result of import substitution.

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