In a significant move towards promoting import substitution of plastic goods and aligning with the government’s Make in India initiative, the All-India Plastics Manufacturers Association (AIPMA) – AMTEC is gearing up to organize the 3rd Technology Conference for the Growth of Plastic Industry in Ahmedabad on July 28, Friday. Supported by the Ministry of Micro, Small and Medium Enterprises, the Department of Chemicals and Petrochemicals, and the Department of Commerce, Government of India, this conference aims to provide a platform for manufacturers and importers to foster the manufacturing of “Make in India – Make for the World” plastic products. Read More Business News on our website.
India’s Import Dependency in Plastic Goods
A study conducted by AIPMA, India imported plastic goods Of worth Rs. 37.5k crores in the fiscal year 2021-22, with China accounting for 48% of these imports. This significant import dependency has raised concerns about reducing reliance on foreign markets and achieving self-reliance in the plastic industry.
The Roadmap for Import Substitution
In response to the need for import substitution and to achieve self-reliance, AIPMA has identified 553 plastic products that are suitable for being manufactured locally.
Harnessing India’s Potential for Growth
Mayur D Shah, President of AIPMA, highlighted India’s potential to become the world’s premium plastic supply hub. With an annual manufacturing output of goods worth Rs. 3.5 lakh crore. The upcoming conference in Ahmedabad is expected to serve as a catalyst for direct dialogues between manufacturers and importers, showcasing various technologies and innovations that facilitate import replacement.
Importance of Technology and Business Opportunities
Arvind Mehta, Chairman of AIPMA’s Governing Council and AIPMA’s Arvind Mehta Technology and Entrepreneurship Centre (AMTEC), emphasized the significance of technology and business opportunities for local plastic goods manufacturers arising from import substitution. With initiatives like Digital India, Make in India, and Skill India supporting the plastic industry, the conference will encourage the exchange of cutting-edge technologies and innovations.
The Conference and Its Distinguished Guests
Building on the success of the previous Technology Conferences held in Delhi and Mumbai, the 3rd edition in Ahmedabad is expected to bring together over 450 industries, government officials, researchers, entrepreneurs, and policymakers. The Guest of Honor for the conference will be Prof. Sanjay K Nayak, Vice-Chancellor, Ravenshaw University.
Conclusion
The All India Plastic Manufacturers’ Association (AIPMA) – AMTEC’s 3rd Technology Conference for the Growth of Plastic Industry in Ahmedabad is poised to play a pivotal role in propelling India’s plastic industry towards import substitution. By encouraging local manufacturing of plastic products and reducing import dependency, India aims to achieve self-reliance and bolster its position as a leading player in the global plastic supply market. The conference is expected to foster fruitful collaborations between manufacturers and importers, paving the way for the accelerated development of import substitution plastic products through the exchange of cutting-edge technologies and innovations.