Novel technologies and rise in usage of polymers in new areas of applications are likely to spur the growth of plastic manufacturing sector in the coming years.
Plastic industry makes significant contribution to the economic development and growth of various key sectors in the country such as automotive, construction, electronics, healthcare, textiles, and FMCG. Government initiatives such as Make in India, Skill India, Digital India, Swachh Bharat Abhiyan, etc are opening up opportunities for accelerated growth in the plastics industry, as the industry is contributing in a big way in the success of these programs. For example, for Digital India program, plastic is one of the major components required in the production of electronic gadgets, which are mostly imported at present in the country. In the next 5 to 10 years, most of the products in the electronics industry are proposed to be made in the country, thus reducing imports from China & other countries – making India an emerging sourcing hub.
“Smart cities, rapid urbanisation, increase in sale of packaged products through retail and e-commerce 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,” said K K Seksaria, President, Plastindia Foundation, during the formal launch of Plastindia 2018 – a mega trade fair for plastics industry to be held next month in Gandhinagar, Gujarat.
Indian plastics industry is emerging as one of the fastest growing global markets with 12% growth rate. By 2020, plastics consumption of the country is expected to increase from the current 12 million metric tonnes per annum (MMTPA) to 20 MMTPA.
This story is from the January 2018 edition of Industrial Products Finder.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 2018 edition of Industrial Products Finder.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Plastics In Manufacturing – Recent Trends
Research and innovation is driving the plastics industry, finding new applications, replacing conventional materials in a win-win situation.
Surveillance To Act As A Catalyst For Secure Cities
Smart Cities Council India along with Western Digital, a leading global provider of storage solutions, co-hosted a Roundtable Conference on “Technology Modernization for Safer and Smarter Cities” in Mumbai, recently.
Test & Measurement Equipment: Raising The Quality Bar
With increasing usage of electronics (across industries) and stringent standards for quality, safety, and environmental, the demand for test and measurement (T&M) equipment is expected to rise in near future.
“IoT Will Change Industrial Sector Scene In Next 4-5 Years”
…says Madhukar Tripathi, Senior Manager (Sales & Marketing), Anritsu India Pvt Ltd. Tripathi, who has been associated with T&M (test and measurement) industry since last 16 year, In this interview, he explores emerging trends in telecommunication sector and importance of T&M in its evolution.
“Collaborative Robots Are Making Inroads In Automation Industry”
…says Amit Bhingurde, COO, TAL Manufacturing Solutions Ltd, which launched India’s first articulated industrial robot TAL BRABO in the market last year. In this interview with IPF, he discusses trends in automation & robotics.
German Engineering Technology Powering India's Growth Story
Out of approximately Euro 18.6 billion of machinery imported by India in 2016, Germany had a largest share of around 16%, ahead of Japan (11.2%) and Italy (7%), says Rajesh Nath.
India Copper Forum: At The Forefront Of Technological Evolution
The third edition of ICF discussed in-depth the Indian and global copper industry trends, challenges and opportunities.
Pollution May Cause Massive Job Losses In NCR
While nearly 10,000 units have been severely impacted by the ban on the use of petcoke and furnace oil from November 1, toxic air might drive away expats from NCR and hurt tourism business, says Assocham.
‘We Assure Energy Saving Through Measure, Monitor And Control'
Sam P Cherian, Chairman, elmeasure India Pvt ltd, A young company active in the field of energy management, responds to the IPF questionnaire. Excerpts…
Summit On Mechanical Engineering Marks 125 Years Of VDMA
The summit discussed some of the key issues such as Industry 4.0, disruptive technologies, organisational hurdles, impact of GST, etc
