PLASTINDIA 2023

PLASTINDIA 2023: Relevance

• GS 2: Government policies and interventions for development in various sectors

PLASTINDIA 2023: Context

• Recently, Ministry of Chemicals and Fertilizers has launched PLASTINDIA 2023—11^th International Plastic Exhibition & Conference.

प्लास्टइंडिया 2023

Petrochemical Industries in India

• India’s Petrochemical Industries has been one of the fastest-growing industries in the Indian economy with high demand growth.
• India is projected to contribute more than 10% of the incremental global growth in Petrochemicals over the next decades.
• However, amidst the Petrochemical growth globally, volatility, significant Import dependency and attractive demand growth have been the primary reasons for which India needs Petrochemical assets to meet the domestic and global demand.
• Indian Chemical industry has become a global player and earns foreign exchange for the nation with the “Make in India, Make for World” approach.
• Exports of Indian Chemicals have registered growth of 106% in 2021-22 over 2013-14.
• Key drivers of growth: Demographic dividends, increasing export demand and enabling Government initiatives.
  • Earlier, the government has decided setting up of 10 plastic parks as well the Plastic Export Promotion Council.
• Attractive business opportunities are present in different segments, including petrochemical intermediates, downstream petrochemicals, packaging and specialty chemicals.

What is PLASTINDIA 2023?

• PLASTINDIA refers to a series of exhibitions under the Plastindia Foundation, which will hold the 11th International Plastics Exhibition, Conference and Convention from 1st-5th February, 2023 in New Delhi.
• The exhibition will provide opportunities for employment generation, facilitate the growth of the Indian plastic industry and make India a hub for sourcing plastic for global needs.
• PLASTINDIA 2023 will showcase India as the global hub for sourcing processed items related to Plastics, Raw materials, Machinery and products for use in all segments of human life.
• Exhibitions like PLASTINDIA 2023 are important because they will attract international plastic players to the country and provide a platform to learn and exchange ideas and technology.

Recommendation to boost petrochemical industry in India

• There is a need to create a roadmap for the plastic industry for long term policy support, investment as well as export promotion.
• From a green growth perspective, an interdisciplinary approach is needed throughout the value chain from primary chemical and plastic production to waste management.
• Solution to plastic waste problem: Reducing reliance on single-use plastics other than for essential non-substitutable functions, improving waste management practice and raising consumer awareness about the multiple benefits of recycling.
• The petrochemicals industry should develop a strategy to reduce high carbon footprint, and ocean pollution and focus on adopting green technologies to achieve net-zero emissions by 2070.

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