Though the Indian economy faced a meltdown during the inflation of 2009, it after regaining its strength has shown a tremendous advancement in all the sectors of economy. One such sector to grow out big is Plastics. Growing at a rate of 13 per cent, the industry that serves almost every other sector of Indian is expected to maintain its double digit growth in the coming years as well.
Studies show that India alone is growing market for plastics and consumer of about 11 million tons against global consumption of 275 million tons per year. The consumption should increase to 16 million tons by 2020. This means that the use of plastics will tremendously increase giving opportunity to manufacturers to step into this field of production.