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Aim To Hike Plastic Industry Turnover To Rs 10 lakh Cr In 5 years: Goyal

Goyal said, "The plastic industry is one of the biggest generators of employment in the country. It should now also aim to double the employment as well in five years time with the expected increase in turnover."

Photo Credit : Piyush Goyal's Youtube

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Union Minister of Textiles, Commerce and Industry, Consumer Affairs and Food and Public Distribution, Piyush Goyal while addressing the forum.

Union Minister for Commerce and Industry, Piyush Goyal, on Tuesday, said that the plastic manufacturing industry should aim to increase their turnover to Rs 10 lakh crore from the present level of 3 lakh crore in the next 5 years. 

Goyal, who was reviewing the functioning of the plastic industry in India, said that huge potential exists to increase the manufacturing of plastic machinery in the country and reduce dependence on Imports.

Goyal said, "The plastic industry is one of the biggest generators of employment in the country. It should now also aim to double the employment as well in five years time with the expected increase in turnover."

Goyal also asked the plastic industry participants to focus on quality. The dependence on using second-hand machinery is not the way forward. "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 BIS would set up labs wherever needed to ensure best possible testing of plastic materials," he added.  

Goyal said we all need to ensure that MSMEs get assured supply of raw material to compete and grow. Maximum support from all stakeholders needs to be given to MSMEs as they generate huge employment and support millions of livelihoods. He asked the industry to commit to create capacities to produce the best in India. This would add muscle to India’s Atmanirbhar Bharat Mission as well.


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piyush goyal Union Minister