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Plastic industry must aim for Rs 10 lakh crore turnover in five years, says Piyush Goyal

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Plastic industry must aim for Rs 10 lakh crore turnover in five years, says Piyush Goyal

The plastic manufacturing industry should aim to increase turnover to ₹10 lakh crore in the next five years from Rs three lakh crore currently, said Union minister of commerce and industry Piyush Goyal.

Goyal, who was reviewing the functioning of the plastic industry, said dependence on second-hand machinery was not the way forward and that there was huge potential in increasing the manufacture of plastic machinery in India and reducing dependence on imports.

Emphasising that the plastic industry was one of the biggest generators of employment in the country, he said it should now aim to double employment as well in five years with the expected increase in turnover.

He also asked participants from the industry to focus on quality.

“A less-than-good quality machinery would only produce substandard products. In order to compete globally, world class machinery needs to be used for all kinds of production,” the commerce and industry ministry quoted Goyal as saying.

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