Page 21 - Plastics News August - 2023

Indian Plastic Industry likely to value 10 lakh cr by 2027: AIPMA

ence for the Growth of the Plastic play a vital role in helping the country
Industry in Ahmedabad, AIPMA presi- become a USD5 trillion economy,” he
dent Mayur Shah said, “The plastics added.
industry is well positioned to cater to The conference for the Growth of
the domestic market and also emerge the Plastic Industry aimed at boosting
as a global plastics supply hub.”
the Make in India programme and fa-
“AIPMA has identified 553 products cilitating import substitution of plastic
for import substitution that is current- goods.
ly worth Rs 37,500 crore in imports.
Ahmedabad, July 29 (KNN) The In- Of this, 48 per cent came from China. It was organised by AIPMA with the
dian plastics industry is expected to The move towards import substi- support of Union ministry of micro,
reach 10 lakh crore by 2027 from Rs tution will create 5 lakh jobs in the small and medium enterprises, the
3.5 lakh crore in 2022-23, the All In- country. Import substitution offers a department of chemicals and pet-
dia Plastics Manufacturers Association huge opportunity, “he said. rochemicals, and the department of
(AIPMA) said on Friday. commerce.
“We are confident that the Indian
During the third technology confer- plastics manufacturing industry will

PLASTICS NEWS 2121
August 2023
August 2023 PLASTICS NEWS