With the domestic petro-chemical industry clocking a double digit growth, the per capita consumption of plastic in the country is likely to double by 2011.
The per capita consumption of plastic in the country stood at 6 kg now and is expected to go up to 12 kg by 2011.
By 2012, India is also projected to be the third largest consumer market for plastic goods with a consumption of 12.5 million tonnes per annum, behind US and China. While the consumption of plastics in US is projected at 38.9 million tonnes per annum, China will be neck to neck with US at 38.8 million tonnes per annum, R A Lohia, former president, Indian Plastic Federation said here. Lohia, who was in the city in connection with a visitors promotion programme for PlastIndia-2009 said that the plastic industry is projected to achieve a growth of 15 per cent in the next couple of years despite the global slowdown.
The size of the domestic plastics market is about Rs 40,000 crore and 55,000 units are operating across the country. There is scope of 10,000 more units in this sector and 1 million new employment opportunities.
The Indian Plastic Federation (IPF) is working on the public-private-partnership (PPP) model for plastic waste disposal.
About 77,000 square meters are being taken up for the PlastIndia exhibition with 17 halls and 16 hangers outside the Pragati Maidan in New Delhi. Ashish Agarwal, chairman, national promotion committee (NPC), eastern region (Orissa) said, 1,400 exhibitors will participate in the PlastIndia-2009, exhibition-cum-conference of plastic industries in the country to be held at Pragati Maidan in New Delhi.
While 450 exhibitors will come from foreign countries, about 950 domestic exhibitors will participate in the exhibition. About 1 lakh serious business visitors are likely to visit the exhibition. He pointed out that there are vast opportunities for a new entrepreneur as starting a plastic processing unit does not require much capital. It is the best industry for the start-up entrepreneurs, he added.
Khalid A Ahmed, coordinator, small scale industries cell, Utkal Chamber of Commerce and Industry (UCCI) said, the per capita consumption of plastics in Orissa is one of the lowest in the country.
“The per capita plastics consumption in the state is 1.72 kg at present compared to the national average of about 6 kg. The Orissa government should initiate measures for setting up plastic clusters in the state”, he added.
Tax experts say valuation of shares is a grey area and may lead to litigation
India produces around 80% of the world's guar gum output which used as a thickening and binding agent