Published on August 17, 2015

Indian Plastic industry is predictable to nurture 10 percent till the end of 2018 as the manufacturing industry and economy demonstrates the symbols of recuperation, said by market predictors.

Today in India there are about 22000 plastic processing units and 150 plastic processing machinery manufacturers. The per capita consumption of plastic products in India is growing and is moving towards 8% GDP growth.

Increasing demand from healthcare industry is one of the key factors driving the growth of plastic industry in India. Demand for plastic packaging was highest from the food & beverages sector and accounted for over 65% of the market share, which will enhance the production level of the industry.

Market report said that, Gujarat government has announced a slew of initiatives to assist start-ups, plastic industry as well as labour intensive units, as part of its new industrial policy, 2015 which will boost up the plastic sector in India.

As per the report, with increasing competition in the global market and the constant drive to perk up living standards, the scope for use of plastics is bound to amplify and make the production twofold in the upcoming years.