Page 9 - Plastics News December 2021

FRoM THE EDIToR'S PEN

We stand Vindicated

Plastics is the sunrise industry with too much of untapped opportunity and with the Government
Ministry saying this we as an Industry feel proud and are vindicated yet again. Shri Piyush Goyal,
Minister for Commerce & Industry, Textiles and Consumer Affairs & Food and Public Distribution
was reviewing the functioning of plastic industry in the country and heard the views and suggestions
of industry stakeholders for further boosting the performance and potential of the sector.
Speaking on the occasion Shri Goyal said that the Plastic industry is one of the biggest generators
of employment in the country. It should now also aim to double the employment as well in five
years time with the expected increase in turnover.
The Hon’ble Minister Shri Goyal asked the Plastic manufacturing industry to aim to increase their
turnover to Rs 10 lakh crore from present level of 3 lakh crore in next 5 years. He said that there is
huge potential existing to increase the manufacturing of plastic machinery in the country and thus
reduce dependence on Imports.
Assuring that the Central Government is committed to the holistic and sustainable growth of the
sector he also promised to ensure that MSMEs get assured supply of raw material and financial
help in the stipulated time to compete and grow. This assurance is one the best thing to happen
for MSME's as most of us are aware that one has to buy a certain fixed quantity of raw material
from manufacturers to get the duty draw back and we have been pursuing that this criteria should
be resolved at the earliest so as to enable the MSME purchase according to their needs only.
He also reiterated the fact that it’s high time now and the industry needs to gear up and commit
to create capacities to produce the best in India as this would add muscle to India’s Atmanirbhar
Bharat Mission as well further saying "the BIS would set up labs wherever needed to ensure best
possible testing of plastic materials."

Shri Goyal categorically said that maximum support from all stakeholders needs to be given to
MSMEs as they generate huge employment and support millions of livelihoods.The minister
confirmed that the government of India is negotiating trade agreements with eight more countries/
regions which includes the United Arab Emirates, Australia, Canada, Israel, United Kingdom,
European Union, among others.

India’s merchandise exports to existing trade partner countries/regions have registered a growth
of 20.75 per cent in the last five years.Also India’s combined exports of major chemicals and
petrochemicals stood at Rs 58,310 crore for the period between April and August 2021, a rise of a
staggering 42 per cent from Rs 40,940 crore reported in the corresponding period last year according
to inputs from Department of Chemicals and Petrochemicals under the Ministry of Chemicals and
Fertilizers.To conclude I shall say its a long way to go and there is too much of untapped potential
in the industry that needs to be worked on..
Wishing all our readers Merry Christmas and Happy & Prosperous New Year 2022 !

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

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