Indian plastic industry is one of the leading sectors in the country. India has more than 2,000 exporters in the plastic industry . It employs more than 4 million people in the country and constitutes 30,000 processing units; among these, 85-90% belong to small and medium enterprises.
The Government of India intends to take the plastic industry from a current level of Rs. 3 lakh crores (US$ 37.8 billion) to Rs. 10 lakh crores (US$ 126 billion) in 4-5 years.
During 2021-22, India witnessed a huge growth in exports in terms of value over 2020-21. Overall, the total plastics exports in 2021-22 recorded a sharp growth and increased by 35.4% over the last year.
The cumulative exports of plastics and related materials during 2021-22 were valued at US$ 13.34 billion. This was a 33.4% increase from the 2019-20 exports valued at US$ 10 billion.
India exports plastic to more than 200 countries in the world. The top 5 importing countries are USA, Germany Japan, the UK and France. India largely exports plastic and related products to USA, China, UAE, Germany, Italy, the UK, Bangladesh, Nepal, Turkey, France, Viet Nam, Indonesia, etc.
The total value of exports to USA, the largest consumer of the Indian plastic industry, stood at US$ 1,485.8 million in 2020-21, an increase of 8.2% yoy.
China is the second largest consumer of plastic export products from India and the total value of exports stood at US$ 1,266.08 million, an increase of 20.9% yoy.
The total plastic exports from India to France during 2020-21 was around US$ 162 million.
The Ministry of Commerce & Industry of India aims to increase the plastic exports of the country to US$ 25 billion by 2025.