Commerce and Industry Minister Piyush Goyal has challenged India's plastics sector to double its overseas sales while maintaining environmental responsibility and meeting global quality benchmarks. Speaking at an industry gathering, Goyal stressed that small and medium manufacturers possess significant opportunities to expand their international reach and highlighted the importance of positioning India as a supplier offering both superior quality and competitive pricing.
The sector generated $12.5 billion in foreign sales during the last financial year, representing an 8 percent increase from the prior period. Major receiving markets include the United States, China, the United Arab Emirates and Germany. The industry employs more than 4 million workers across 30,000 processing facilities, with micro and small enterprises comprising roughly 85 to 90 percent of operations.
Government officials aim to grow the sector to $126 billion within five years through quality enhancement programs, supply chain improvements and pending trade agreements with Western nations. Authorities have approved 10 specialized industrial zones dedicated to plastics manufacturing, with six parks already receiving final clearance from state governments in Madhya Pradesh, Assam, Tamil Nadu, Odisha and Jharkhand.
The sector generated $12.5 billion in foreign sales during the last financial year, representing an 8 percent increase from the prior period. Major receiving markets include the United States, China, the United Arab Emirates and Germany. The industry employs more than 4 million workers across 30,000 processing facilities, with micro and small enterprises comprising roughly 85 to 90 percent of operations.
Government officials aim to grow the sector to $126 billion within five years through quality enhancement programs, supply chain improvements and pending trade agreements with Western nations. Authorities have approved 10 specialized industrial zones dedicated to plastics manufacturing, with six parks already receiving final clearance from state governments in Madhya Pradesh, Assam, Tamil Nadu, Odisha and Jharkhand.
