"India's plastics business generates annual revenue of Rs 3 lakh crore, of which one-third is exported. The Indian plastics industry has a lot of room to grow and become the world's premium supply hub. It can aim to grow its economic activity to a value of Rs 10 lakh crores. This may be accomplished by increasing exports and reducing imports, which would result in a significant increase in job possibilities," Shri Piyush Goyal remarked at the PLEXCONCIL's inaugural meeting.
Shri Goyal praised the Indian plastics industry's export performance, noting that the industry achieved exports of USD 13 billion in 2021-22, a 30 percent increase, and praised the industry's export objective of USD 25 billion set for 2025. "The Indian plastics industry has performed well on both the export and local fronts, and has made major contributions during the pandemic, particularly in supporting the country's healthcare supplies," he added. He insisted that the central government was assisting plastic makers, particularly to ensure that more MSMEs take advantage of national and international market prospects and create more jobs for the marginalized sector.
The Indian plastics industry's stakeholders were also asked by the Commerce and Industry Minister to improve technology, equipment, and capacity to make world-class, high-quality products and seize global chances for plastics to become a major participant. He also emphasized the importance of ensuring long-term viability by engaging in environmentally responsible plastic recycling practices.
Shri Piyush Goyal, Minister of Commerce and Industry, was welcomed by Shri Arvind Goenka, Chairman of PLEXCONCIL, who thanked him for his Ministry's support of the Indian plastics sector. "The Indian Plastics Industry is aggressively progressing on national and export fronts by achieving USD 13 billion of exports in the year 2021-22 with a 30% growth and eying USD 25 billion of exports by 2025, which will take India into the top spot in global plastics exports," Shri Arvind Goenka said in his welcome address. Many plastic firms will be encouraged to look at worldwide potential by the PLEXCONCIL Export Excellence Awards".
Shri Goenka encouraged Hon. Shri Piyush Goyal promotes the plastics industry by encouraging large-scale investments in capacity development so that more firms may contribute to exports and gain the benefits of global markets.
Hon. Shri Piyush Goyal felicitated the winners of PLEXCONCIL's Export Excellence Awards for 2017-2021 and announced the beginning of the Export-Focused Trade Fair for the Plastics Industry - 'PLEXCONNECT 2023' at a ceremony held at Taj President in Mumbai.
The ceremony was attended by Shri Arvind Goenka, Chairman, PLEXCONCIL, Shri Hemant Minocha, Vice Chairman, PLEXCONCIL, Shri Ravish Kamath, Immediate Past Chairman, PLEXCONCIL, and Shri Sribash Dasmohapatra, Executive Director, PLEXCONCIL, as well as other PLEXCONCIL dignitaries.
The PLEXCONCIL Export Excellence Awards honored excellence in plastics exports to encourage other firms to participate in the nation-building process by promoting economic growth and prosperity through exports. A total of 96 winners received the awards. Some of the winners included Cosmo Films Limited, Chiripal Poly Films Limited, and Vikas Industries.
"This year, the Council celebrated exporters in as many as 50 Award categories and one new Award category of Life Time Achievement Award", said PLEXCONCIL Vice-Chairman Shri Hemant Minocha. Shri Vamanrai Parekh, Chairman of Nilkamal Limited, a senior businessman, received a Lifetime Achievement Award from Hon Shri Piyush Goyal, instituted for the first time by PLEXCONCIL, for his unflinching contribution to India's plastics sector and national prosperity.
'PLEXCONNECT 2023' - An Export-Focused Trade Fair for the Plastics Industry and PLEX E Pages, which featured over 20,000 participants from the Indian plastics industry in an e-directory style, were also launched at the event. The event also covered significant themes of relevance to the sector, such as technical advancements, boosting entrepreneurship in exports, incentives, and new player schemes, among others.
"On the export front, the Indian plastics sector is currently pursuing traditional markets of North America and Europe, as well as growing markets like Africa, Latin America and the Caribbean, and Oceania countries," stated Shri Sribash Dasmohapatra, Executive Director of PLEXCONCIL. "With sufficient government support, the Indian plastics industry is transitioning from a linear to a circular economy, which benefits all stakeholders," Shri Goenka remarked.
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