India should increase plastic production turnover to Rs 10 lakh crore: Union Minister Piyush Goyal

While interacting with the industry leaders and stake holders in the country, Union Minister Piyush Goyal on Tuesday said that the plastic production turnover of the country should increase from the current 3 lakh crores to 10 lakh crores in the next five years. He clarifies that plastic production will help avoid import and promote employment.

New Delhi:Union Minister of Commerce and Industries Piyush Goyal said that the plastic manufacturers should aim at increasing the turnover of the plastic industry to Rs. 10 lakh crores from the present turnover of Rs. 3 lakh crores, in the next 5 years.

He was speaking at a meeting with the plastic industry leaders and stakeholders held on Tuesday, wherein he reviewed the functioning of the plastic industry in the country and heard the views and suggestions of the industry stakeholders to further boost the performance and potential of the sector.

With plastic manufacturing being one of the major industries in the country, Goyal said that a high turnover target will ensure double employment and that there exists a huge potential to increase the manufacturing of plastic machinery in India and consequently reduce the dependence on imports.

He further asked the industry leaders to focus on the quality of the material produced. The Minister added that dependence on second-hand machinery is not the way forward and that less than good quality machinery would only produce sub-standard products. In order to compete globally, world-class machinery needs to be used for all kinds of production.

To ensure this, he said that the Bureau of Indian Standards (BIS) would set up labs wherever needed to facilitate the best possible testing of plastic materials.

He further clarified that it needs to be ensured that MSMEs get an assured supply of raw material to compete and grow. Maximum support from all stakeholders needs to be given to MSMEs as they generate huge employment and support millions of livelihoods, he said.

He, therefore, asked the industry to commit to creating capacities that would help them produce the best in India.

"This would add muscle to India’s Atmanirbhar Bharat Mission as well," he added. He also told his audience that the centre is committed to the holistic and sustainable growth of the sector

The meeting was attended by heads of various Industry and Trade bodies of the Petrochemical & Plastic sector including the All India Plastics Manufacturers’ Association (AIPMA), FICCI, CII, Organization of Plastics Processors of India (OPPI), Process Plant and Machinery Association of India (PPMAI), PLEXCONCIL, Material Recycling Association of India, etc. in addition to senior officers of the concerned ministries of the central government.