Page 22 - Plastics News January 2023

SPECIAL MESSAGE

INDIA BECOMING ATMANIRBHAR IN
PLASTIC INDUSTRY

The Indian plastic industry market is one of the leading sectors in
the country’s economy. The plastic industry has made substantial
progress and has grown rapidly. The plastic industry in the country
is an integral part of the economy and about Rs.35, 000 crore Arvind M. Mehta
worth of plastic is exported from India. Chairman - Governing Councinl AIPMA
Past President – AIPMA & Plastindia Foundation
Plastics are among the top 10 in exports and the top 6 in imports. Chairman – AIPMA’s AMTEC
The industry which contributes Rs 3.5 Lakh Crores annually to
GDP and employs 50 Lakh + people is expected to reach Rs. 10 Lakh Crore and 1 Crore employment by 2027.

Import substitution of Rs. 37,500 crores annually will enable us to use our core strengths to leverage competencies
and create an equitable trade balance with the world. Further, import substitution will create jobs, reduce demand
for foreign currency, stimulate innovation and ensure the country’s independence. The All India Plastics Manufacturers’
Association (AIPMA)’ has published a study report on the Import Substitution of Plastic Finished Goods. This will
enhance the import Substitution of Plastic Finished Goods and will be very useful to policymakers, plastic processors,
raw material producers, exporters, machine manufacturers etc. Import Substitution Strategy not only will reduce an
economy's dependence on foreign goods but will also provide impetus to domestic firms. An increase in demand
for local goods will lead to an increase in employment in the country. And thus changing the economic structure by
replacing foreign goods with domestic goods. These approaches will strengthen and help Indian plastic processors to
manufacture the maximum range of products making India ‘Atmanirbhar’.

Import Substitution Strategy along with reducing an economy's dependence on foreign goods will also provide an
impetus to domestic firms. The government provides various financial encouragements, incentives, and licenses to
the domestic producers to produce domestically the import substituted goods. AIPMA’s initiative is one step forward
to giving much-required data for ease of doing business in line with encouraging national production to develop new
products to stimulate demand and import restrictions. This initiative will help create huge business opportunities for
Indian manufacturers. The study of import substitution is to save foreign exchange for the import of more important
goods and achieve self-reliance in the production of as many goods as possible and make India ‘Atmanirbhar’.

AIPMA’s AMTEC- A Centre of Excellence for Plastic Product Innovation and Application is a step forward to help
the plastic industry in manufacturing high quality products in shortest possible time. The Centre of Excellence is one
of the key torch bearers in reducing imports of plastic finished goods thus making Indian plastic processing industry
Atmanirbhar. The efforts of the government in creating favourable policies and guidelines, initiatives by Niti Aayog,
MSME interventions and technology experts are laudable. With such collaborations, India can surely be Atmanirbhar
(self-reliant) in the plastic industry.

22 PLASTICS NEWSASTICS NEWS January 2023
22 PL
January 2023