Plastics is one of the fastest growing industries in India experiencing a double digit growth rate on an average. Make in India program, Skill India program, Digital India program, Swachh Bharat Abhiyan and Start up India initiatives by Government of India are opening up opportunities for even more accelerated growth in this industry. Plastics industry would also contribute in a big way in the success of all such programs. As an example, in Digital India program, most gadgets are made of Plastics. In the electronics Industry, in the next 5 to 10 years, most of the products are proposed to be made in India.
Imports from China and other countries will reduce and India will be a major sourcing hub. Smart cities, rapid urbanization, increase in sale of packaged products through retail and eCommerce mode, low per capita consumption, shifting consumer lifestyles, large young population, majority of population of middle income group, many manufacturing segments adopting higher percentage of plastics, etc. are contributing towards the growth of Plastics industry. Indian Plastics industry has geared itself to take up the challenges of quantitative and qualitative growth for serving the nation and its citizens and also to take the country to a higher growth path. This was shared by President Plastindia Foundation Mr. K. K. Seksaria at the formal launch of Plastindia 2018 here today.
Sharing further details, Mr. Rajeev Chitalia, Chairman of NEC, PLASTINDIA 2018 mentioned, “It seems that the centre of gravity is rapidly shifting to India due to the opportunities here. India is the world’s NEXT Plastic destination by virtue of both, its sheer size and tremendous growing domestic demand. The facts and figures say it all. By 2020, Plastics consumption of India is set to increase from the current 12 million metric tonnes per annum to 20 million metric tones per annum. India will deploy 1, 80,000 machines by the year 2020 as compared to the current 1, 13,000.
The export of Plastics finished goods alone is set to nearly double from $ 7.9 billion currently to $15 billion in next 5 years. The industry is determined to play a significant role in executing government’s vision of raising exports to $900 billion by 2020. If the response to PLASTINDIA 2018 is any indication, then Indian plastics industry is looking at great times ahead. The event would be spread over 125,000 square metres of gross area spread across 15 state-of-the-art halls. About 2000 companies including 600 companies from across 40 countries would display their products, technologies and innovations in PLASTINDIA 2018.
The effort is to bring the entire Indian Plastics industry together and make PLASTINDIA 2018 the most broad spectrum showcase of Indian plastic Industry and innovations. The Event has the support of 60 plastic associations from across India for bringing visitors and buyer delegations to create more trade opportunities for exhibitors. About 2,00,000 stakeholders from the Plastic Industry are expected to visit PLASTINDIA 2018, including overseas visitors from countries of Africa, Middle East, South and Latin America, Europe and Asia.
As a part of the Make in India initiative, PLASTINDIA 2018 wants more and more companies to be able to showcase their products. It is working on special packages for the Machinery and Processing Equipment Manufacturers to demonstrate their machineries to enable end users and buyers from automobile, packaging, medical and other industries to get a first hand understanding of how Plastic innovations can be the biggest alternative resource to increase their manufacturing capabilities.
Manufacturers need to re-think on turning their production operations smarter. PLASTINDIA 2018 looks into business cases of smart manufacturing and will cover trends of re-engineering manufacturing processes using 3D printing, robotics, automation, digital technology etc.
Accelerated globalization, rapid change in technology and growing consumerism have brought with it sweeping changes and abundant opportunities in the Packaging industries, resulting in innovative Plastic Packaging products, which are lighter in weight, durable and cost effective. Going ahead recycling and reuse of plastics could be a foremost step towards fostering innovation and sustainability.