The domestic plastics processing industry is expected to grow by more than 50 per cent to ₹ 1.37 lakh crore by 2017-18, according to a paper, co-authored by FICCI and Tata Strategic Management Group.

The report said that the growth of the industry was being driven by higher plastic usage in existing applications and in end-use industries.

Releasing the report here at a two-day conference co-hosted by FICCI and the Organisation of Plastic Processors of India, Hansraj Gangaram Ahir, the Minister of State for Chemicals and Fertilisers, while calling for greater focus on research and development, said at the same time, it is important to keep in mind efficient plastic waste management.

“In value terms, it has grown from ₹ 35,000 crore in fiscal 2005 to ₹ 90,000 crore in fiscal 2014 and is expected to reach ₹ 1,37,000 crore by fiscal 2018,” the report said, while also pointing out that per capita consumption of plastics in India was 9.7 kg.

“There is need to focus more on research and development activities in the plastics processing industry. The Minister also emphasised the need for efficient plastic waste management and urged plastic industry associations to share the responsibility with city authorities,” he said.

He the industry to separate dry and wet waste while also streamlining the collection and recycling of waste through appropriate technologies.

Published on December 8, 2014