Published on September 22, 2014
Recent news said that Indian plastic sector was down from last two years due to slow down of Indian economy including rupee depreciation but the sector is likely to grow by 8-12 % a year through 2020. Industry analysts said that at present usage of plastic has increased in many sectors and that will add to the growth of this industry. Indian government is also helping the manufacturing sector by providing finance of $1 trillion on infrastructure.
Experts are expecting that country’s manufacturing sector is likely to grow and will jump from 12th place to 7th place for the world’s largest by 2025. Recent research report said that Indian plastic industry is likely to touch USD 15 billion by FY 2019 that is USD 8 billion at present.
India has targeted an export of $ 9.5 billion (57, 000 crore) for the current fiscal. Last year actual export was $ 7.9 billion, which was 3% of total export of the country. Major market for India includes the US, China and the UAE which accounts for 10%, 11% and 5% respectively. Plastic industry is working at moderate level for the current week.
