Union Minister urges plastics industry to reduce imports

Representative photo by Nick Fewings on Unsplash

Union Minister of Commerce and Industry Mr Piyush Goyal has urged the plastics industry to reduce import dependency to become the world’s premium supply hub.

“The plastic industry needs to reduce the volume of imports and become self-reliant. The volume of imports of USD 17 billion shows that there is a clear market waiting for us to capture. I am sure making the plastics industry a USD 100 billion industry in the next 4-5 years is very much achievable,” Mr Goyal said while speaking at the Exports Excellence Awards by the plastics exporters body PLEXCONCIL.

“It can target to take its economic activity from the current Rs 3 lakh crore to Rs 10 lakh-crore industry. This could be achieved through more exports and import substitution, which in turn will create immense job opportunities,” he added. Mr Goyal emphasised segregation and reprocessing of plastic waste as important contributors towards this goal.

Currently, the plastic industry employs over 50 lakh people, according to PLEXCONCIL. One-third of India’s plastics is exported.

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