Plastic industry should reduce its dependence on imports, try to become a 100 billion dollar industry: Goyal
Reduce dependence on plastics industry imports
During the year 2021-22, the plastics sector has achieved the target of exports of $ 13 billion, which has seen a growth of 30 percent. The government has set a target of exporting $25 billion from the sector by 2025.
Union Minister of Commerce and Industry Piyush Goyal ,Piyush Goyal) imported from the plastics industry on Saturday (Import) and make efforts towards becoming a $100 billion industry in the next four-five years. In an event, Goyal said that the Indian plastics industry (plastics industry) has great potential for growth and has the potential to become the world’s leading supply hub. He said that the Indian plastic industry needs to reduce imports and become self-reliant and the import of $ 17 billion shows that the market has potential. The Union Minister said these things while addressing the Export Excellence Award ceremony of Plexcosyl, an organization of plastic exporters, today.
Employment will increase due to increase in exports
The Union Minister said that as the economy continues to grow at a fast pace, I am confident that the target of reaching 100 billion dollars in plastic industry can be achieved in the next four to five years. We should have the ambition to reach that level. He said that the industry will have to reduce its dependence on imports for this, exports will have to be increased. With this the industry will also be able to provide a large number of jobs. According to him, the sector can play an important role in increasing the income of small businessmen and the poor. At present 50 lakh people are working in the plastics industry. And the size of the plastic industry in the country is Rs 3 lakh crore annually, out of which one third is for export. The Union Minister said that new technologies should be adopted to make the sector world class products. Along with this, the industry should also take such steps so that the world knows that Indian people are serious about the environment.
$25 billion export target possible
The Union Minister said that during the year 2021-22, the plastics sector has achieved the export target of $ 13 billion, which is a great performance with a growth of 30 percent. This has created hope that the export target of $ 25 billion set for the sector by 2025 will be easily met. He said that the recent agreements with different countries can open new opportunities for the sector, although for this the sector will have to meet world-class standards. He said that now is the time for the Indian plastic industry to leave its mark in front of the world in terms of quality.