Contribution of domestic plastic sector in making India developed nation will be invaluable: Piyush Goyal

Mumbai (Maharashtra) [India], July 7 : Union Minister of Commerce and Industry Piyush Goyal said on Thursday that the contribution of the domestic plastic sector in making India a developed nation will be unparalleled and invaluable. He said the domestic plastic sector in the country has done well in recent years, and it has tremendous potential to grow further, according to an official statement.

The Union Minister was addressing the second Technology Conference for Growth of Plastic Industry held in Mumbai today.

"Union Minister Piyush Goyal said the export of the country was stalled at around 500 million dollars till 2020, but the scenario has changed in the last two years and the country has managed to touch the 776 million mark in the export sector. The plastic industry's contribution was 12 billion dollars and it has the potential to grow", said the official statement.

Further, Minister Goyal said, "The sector has the potential to add business opportunities, jobs for the young generation, opportunities in the world and it can help the government to grow the entire ecosystem of the plastic sector over the next few years".

The statement added that the minister had also pointed out that the government is striving for quality and high standards and will not accept substandard production in this sector.

"While underlining the importance of quality, he said that Government is striving for quality and high standards and will not accept substandard production in this sector. Therefore, the Government is awaiting the suggestions from the industry to make it more reliable and at par with the global standards and will implement them immediately", said the official statement.

According to the official statement, Union Minister Piyush Goyal added, "Quality does not require high cost. It can be attained at a low cost, and it is good for the industry, which helps it to expand the scale of operations, reduces waste and it also helps in reducing the cost of production. The industry should have the mindset to give the best to its consumers.".

"The Government is very sensitive to the potential of the industry as well as to the problems of the industry", Minister Goyal assured.

He also appealed to people to contribute to sustainability and sustainable growth, as per the statement.

"India is far ahead on the recycling front and has the recycling average of 13 per cent, which is far ahead of the global average of 9 per cent and some developed economies with only 4 per cent", said the Union Minister, as per the official statement.

In addition to this, the official statement added, "President of the All India Plastics Manufacturers Association (AIPMA), Mayur D. Shah emphasized that the plastic industry will play a vital role in India's ambition to become a 5 trillion dollar economy. The Chairman of AIPMA's Governing Council Arvind Mehta acknowledged the government's initiatives such as 'Digital India,' 'Make in India,' and 'Skill India' as catalysts for boosting India's plastic industry".

Also, the event was attended by industry professionals, researchers, entrepreneurs, and policymakers, said the official statement.