Plastic business to grow into a ten lakh crore industry in next 5 years says Centre

Minister of State for Micro, Small and Medium Enterprises, Bhanu Pratap Singh Verma today said the government is making endeavour to make the plastic business a ten lakh crore industry in the next five years.

Inaugurating the International Summit 2022 on Plastic Recycling and Waste Management in New Delhi, Mr Verma said  it is only possible with the help of the MSME sector.

He said, India is a growing market of plastic industry and by the end of 2030 its use in the country will be 30 million tonnes. He said, 95 percent plastic producing units in the country are in the  MSME sector and the government is providing assistance to them through different initiatives.

The Minister said there are 3500 modernised plastic recycling units in the country along with four thousand unorganised recycling plants. He also said the plastic industry is playing a significant role in the Make in India initiative.

Mr. Verma said that the summit is an effective platform to bring the stakeholders and experts to discuss the impact and possible solution for MSMEs and open new business opportunities in the Plastics industry.

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