India’s plastic consumption is expected to touch 16 to 20 million tonnes (MTs) by 2015-16, a official of PlastIndia Foundation, the apex body of major associations, organisations, and institutions connected with plastics, said here on Tuesday.
“India's plastic consumption exceeded 10.2 MTs in 2013-14 and is expected to touch 16 to 20 million tonnes by 2015-16,” said Pusph Raj Singhvi, chairman, publicity and PR committee, PlastIndia Foundation.
Singhvi further said that it took fifty years for India to reach consumption of 1 million tonne but since then every third year, the country has been adding 1 million tonne of consumption.
Shipments of plastics, ranging from raw materials to processed plastic, from India to other countries, according to Rajiv Chitalia, vice-president, PlastIndia Foundation, is estimated at $7.5 billion, of which raw materials make up 35 per cent.
The plastic and allied industries is growing at a Compounded Annual Growth Rate (CAGR) of 12-15 per cent for the last decade and a half and the growth rate is expected to be maintained in the current financial year, said Mahendra Patel, chairman, National Advisory Board (NAB), Plastindia 2015.
Meanwhile, Subhash Kadakia, president, PlastIndia Foundation said that Plastindia exhibition, to be organised from February 5-10, 2015, at Mahatma Mandir in Gandhinagar is expected to bring together about 150,000 business visitors.