Page 9 - Plastics News August - 2023

Greeting to all!!
Wishing you all a Happy 77 Independence Day “Azadi ka Amrut Mahotsav.
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Under the campaign Make In India - Made In India, AIPMA and AMTEC is organizing 6
conferences on Import substitution in 6 cities from which we have successfully completed 5
conferences and have witnessed a heavy foot fall in each of the conference. The response was
very great, attendees have shown immense interest and have shared positive feedback from the
attendees as well.

There were many known speakers from the industry who addressed the gathering as panelist in
each of the conferences who have shared their knowledge and have given amazing presentation
and speech.
For our members who were not able to attend the conferences “GROWTH OF PLASTIC
INDUSTRY – IMPORT SUSBSTITUTION OF PLASTIC GOODS”, here is the brief
summary about what is import substitution.

Import substitution is an economic policy strategy aimed at developing and promoting domestic
industries by replacing imported goods with domestically-produced ones. This approach involves
implementing trade barriers such as tariffs, quotas, and subsidies on imported goods, in order to
protect and support domestic industries and reduce dependence on foreign goods.
The main goal of import substitution is to boost domestic production, create employment
opportunities, and reduce trade deficits. By replacing imported goods with domestically-
produced ones, countries aim to achieve self-sufficiency and foster economic growth.
Import substitution policies have been implemented by various countries to industrialize and
develop their economy. Furthermore, reliance on domestic production would lead to less
import from international markets.
AIPMA and AMTEC have come across around more than 500 products which are currently being
imported and can be manufactured in India as well, the agenda of the conference is to empower
the industry with the necessary tools, technologies, raw material selection, and know-how to
manufacture high quality plastics products. This conference would aim to highlight emerging
business opportunities in the area of plastics value-added products. Emphasis would be given on
identified plastic products that are being imported in large quantity.
This initiative is very helpful to Indian Plastic Industry as it will give more opportunities, will
address employment issue and will focus on growth as well. Sooner the Indian Plastic Industry
opt for these implementations, steadily it will have a diverse effect on the economy and growth
of the industry, though there are still some of the guidelines which are yet to be cleared but
by making a move we can be a steppingstone to print and enhance standard for Indian Plastic
Industry globally.

We are coming up with our last conference on Import substitution on 31st August in Kolkata. We
request you to join this conference and get the knowledge and information about the subject.
We intend to organise more such events in the future and would like you all to be a part of these
events which can benefit the industry.

Rajiv B. Tolat
Hon. Editor
publication@aipma.net

PLASTICS NEWS 99
August 2023 PLASTICS NEWS
August 2023