Plastic Industry in India | UJA Market Report

 

  • As of 2023, the Indian plastic processing industry comprised ~30,000 units using injection moulding, blow moulding, extrusion, and calendaring to create a wide range of products.
  • The plastics industry was home to about 50,000 industries as of 2023, most of which are micro, small, and medium-sized enterprises (MSMEs). These enterprises contribute INR 3,633 billion to India’s economy and employ more than 50,000 people.
  • The plastic industry in India market size is estimated at INR 3,938 billion in 2024 and is expected to reach INR 4,466 billion by 2029, growing at a CAGR of over 6.5% during the forecast period (2024-2029).
  • As of 2023-24, the Share of India’s plastic products industry is 0.5% of India’s GDP.
  • An Indian uses 13 kg of plastic annually versus 27 kg globally.
  • Plastic consumption in India has increased 23 times since 1957 when polystyrene was first produced in India, reaching about 22 million tons.

Plastic Recycling and Government Initiatives


  • In February 2022, India released updated EPR guidelines for plastic packaging to strengthen existing rules. The guidelines promote a circular economy by encouraging the use of sustainable packaging that is reusable, recyclable, or compostable. The guidelines also require the use of recycled plastic content in packaging, supporting investments in recycling infrastructure.
  • Along with the ban on selected single-use plastics announced in August 2021, the new EPR guidelines aim to improve the collection and management of plastic waste in India.



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