Published on October 10, 2013
The Indian plastic industry made a promising beginning in 1957 with the production of polystyrene. After that this industry has grown and diversified quickly. Currently, the Indian plastics industry is spread in whole country, giving employment to approx 4 million people and includes 2000 exporters. This industry includes more than 30,000 processing units, which includes 85-90% of small and medium enterprises (SMEs). Among the developing countries India is one of the most capable exporters of plastics. The Indian plastics industry manufactures and exports a wide range of plastic woven sacks and bags, raw materials, packaging, laminates, moulded/ soft luggage items, plastic moulded extruded goods, sanitary fittings, writing instruments, PVC leather cloth and sheeting, consumer goods, polyester films, electrical accessories, laboratory/ medical surgical ware and travel ware, among other products.
In 2011–12, exports of Indian plastics were approx US$ 7.19 billion, which shows a growth of approximately 47 per cent over the previous year. Indian plastics exports have grown at a rate of 19.9 per cent since 2007–08. Products from the Indian plastics industry are exported to more than 150 countries; major trading partners being the UAE, China, the US, the UK, Italy, Turkey, Vietnam, Germany, South Africa, Pakistan, Singapore, Indonesia, Saudi Arabia, Nigeria, Sri Lanka Brazil, Nepal, Egypt, Bangladesh and the Netherlands
The Indian plastic industry is going through very bad phase right now. The major factors affecting are rupee depreciation from past few months and ever increasing prices of raw material. According to the country’s largest plastics trade association" future of over 4 million jobs and 50,000 manufacturing units are at risk,” Arvind Mehta said, the chairman of AIPMA (All India Plastics Manufacturers Association) in Mumbai. A request has been made by the association to government for the urgent steps to rescue the plastic industry. "Polymer prices have increased sharply," Mehta said, they had raised the prices by 25-30% in the last quarter. "With finances going haywire; the processors are clueless as to how to arrange working capital to run their units. The association said that “there is dire need to impose import duty on plastic goods by Chinese products”. The industry demands that government should safeguard them.
