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    Plastic manufacturing industry can up turnover to Rs 10 trillion in 5 yrs, reduce import dependence: Piyush Goyal

    Synopsis

    Emphasising said that the plastic industry is one of the biggest generator of employment in the country, he said it should now also aim to double the employment as well in five years time with the expected increase in turnover.

    piyush goyalPTI
    Goyal asked the plastic industry participants to focus on quality.
    Commerce and industry minister Piyush Goyal on Tuesday asked the plastic manufacturing industry to aim to increase their turnover to Rs 10 lakh crore from the present level of Rs 3 lakh crore in the next five years. While reviewing the functioning of plastic industry, he said that dependence on using second hand machinery is not the way forward and that huge potential exists to increase the manufacturing of plastic machinery in India and reduce dependence on Imports.

    Emphasising said that the plastic industry is one of the biggest generator of employment in the country, he said it should now also aim to double the employment as well in five years time with the expected increase in turnover.

    Goyal asked the plastic industry participants to focus on quality. The minister added that dependence on using second hand machinery is not the way forward.

    “A less than good quality machinery would only produce substandard products. In order to compete globally, world class machinery needs to be used for all kinds of production,” the commerce and industry ministry said in a statement, adding that the minister said that the Bureau of Indian Standards would set up labs wherever needed to ensure best possible testing of plastic materials.

    The meeting was attended by heads of various Industry and trade bodies of petrochemical & plastic sector like All India Plastics Manufacturers’ Association, FICCI, CII, Organization of Plastics Processors of India, Process Plant and Machinery Association of India, PLEXCONCIL and Material Recycling Association of India besides senior officers of the various ministries concerned.


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