December 19, 2025 02:08 pm (IST)
Follow us:
India is a vast untapped market for plastics: Industry
Kolkata, Sept 7 (IBNS): India has a rather mini consumption of plastics and therefore there is a big potential for the application of downstream industries, said experts and industry honchos at PolyCon INDIA 2014 here on Saturday.
"Innovations in Plastics and Polymer Industry – Opportunities for Business Development" was the theme of Polycon INIDA 2014, hosted by the Indian Chamber of Commerce, where industry people discussed the innovation in plastics and polymer industry and its opportunities for business development.
Four large companies represented the sector were by Sumit Basu, Senior Manager, Indian Oil Corporation Limited, Shivaji Basu, GM – Petrochemical Marketing, GAIL Polymer Technology Center, Sanath Kumar, Head Polymer-ONGC Petro Additions Ltd and M S Battu of HPCL-Mittal Energy Limited.
The seminar discussed global plastic industry scenario where the speakers said India has mini consumption of plastics and therefore there is a big potential for the application of downstream industries.
The eastern zone of India has a considerable amount of market and has the scope of development, said the speakers.
Indian Oil envisaged the growth areas and invested around Rs.15000 crore already, said its representative Sumit Basu.
HDPE (High Density Polythene) market in India is 1800 KTA (kilo tons per annum) and are mostly used in fertilizers packaging, gas, OFC, lube oil.
Railway coaches’ pillows have been changed into polypropylene, reducing the cost of its maintenance. Use of propylene has been made mandatory in hospitals replacing the sterilized cotton.
“Per capita consumption [of plastic] in Europe and western country is 3 to 3.5 kg while in India it is 0.8 kg, we are just in the tip of ice berg,“ said Sumit Basu.
(Reporting by Prashanti Banerjee)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
IPO fireworks! ICICI Prudential AMC pops 20% on market debut
Fri, Dec 19 2025
Bharti Airtel announces top leadership changes; Gopal Vittal to become Executive Vice Chairman
Thu, Dec 18 2025
TCS bets big on AI, shares spike as company reveals ambitious plan
Thu, Dec 18 2025
Meesho’s wild ride: Hits record market cap, then suddenly slides
Thu, Dec 18 2025
SBI rolls out YONO 2.0! Banking gets a major digital upgrade
Wed, Dec 17 2025
Nephrocare IPO pops on debut, dialysis major lists at 7% premium
Wed, Dec 17 2025
Rupee hits new lifetime low, but top economist says ‘don’t panic’
Wed, Dec 17 2025
How AI will reshape India: TCS and CII drop their report
Tue, Dec 16 2025