Mumbai, Jan 16 (PTI) With the growth in consumption,plastic production in India is likely to grow by 60 per centto touch 12.75 million tonne by 2012, according to a industrybody.
"Plastic is an integral part of our life and itsconsumption is growing every year. We are expecting theproduction to grow by 60 per cent in line with the consumptionwhich will be around 12.75 million tonne by FY 12," All IndiaPlastics Manufacturers'' Association (AIPMA) President YogeshShah told reporters here.At present, the plastic production as well as theconsumption is about eight million tonne.
He said the consumption has grown significantly overthe last two decades and India is projected to be number threein plastic usage by 2015.
"The per capita consumption of plastic is presentlyabout eight kg, which is likely to double in next five years."
In finished goods exports, AIPMA expects it to reachUSD 5.3 billion this financial year in line with the yearlygrowth of 15 per cent.
"There is a shift in demand in plastic finishedsegment from China to India, which is contributing to thisgrowth," Shah said.
India exports plastic finished goods to countries inAfrica, parts of Europe and the US.
AIPMA is now exploring other overseas markets likeChina, he added.
The plastic industry employs about 3.5 million people,which is expected to double in next five years, keeping upwith the growth in the sector, Shah said. .
To provide the industry with an international platform and to dispel various myths related to plastics and itsharmful effect on environment, AIPMA is holding the eighthPlastvision'' that will begin here from January 20.
The four-day event, held every three years, is anattempt to ensure better business opportunity and also tohighlight the link between plastic usage and its effect onenvironment, Shah said.
"We have a green pavilion at Plastvision 2011, whichwill discuss the growing plastic sector and the environmentand myths related to plastics," he said.
Apart from the 1,000 domestic companies, Plastvisionwill also witness more than 300 foreign delegations and 160exhibitors from 17 countries.