India to export USD 25.00 Billion of plastic by 2025
Plastindia Foundation, an apex body of the major association, organizations, and institutions connected with plastics, has unveiled the 9th edition of the Plastics Industry Status Report. Giving an overview of the Indian economy, the 3rd largest economy in terms of GDP, the report highlights the significant role that plastics can play in further accelerating economic growth. Among the top 10 items to be exported, India exported USD 10.00 Billion worth of plastics in 2019-20, which is expected to reach USD 25.00 Billion by 2025.
The detailed report also highlights that the production and consumption of plastics in India have increased many folds in the last 3 decades. In 2021-22 the consumption of plastics was approx. 22 MMT, compared to 0.9 MMT in 1990. The industry gives jobs to over 4 million people and comprises over 35,000 processing units, 80% of which are small and medium-sized enterprises. This sector is predicted to achieve 9.1 lakh crores by 2025.
The plastics industry is committed to sustainable development. 90% rigid plastics, including PET bottle waste and 60% of flexible waste is being recycled. 6.4 million mt is estimated to be recycled in 2021-22 which is ~60% of plastic Waste Stream.
Plastindia Foundation is organizing PLASTINDIA 2023, the 11th edition of the international plastics exhibition, conference & convention, from 01st to 05th February 2023, at the newly revamped Pragati Maidan in New Delhi. PLASTINDIA 2023 will focus on innovation, sustainability, and growth, facilitating modern techniques that will help to maintain a cleaner environment and lead to sustainable economic growth.