At a conference with heads of various industry and trade bodies, Minister for Commerce & Industry, Textiles & Consumer Affairs and Food & Public Distribution Piyush Goyal, urged the industry leaders to focus on increasing the turnover of the industry to ₹10 Lakh Crore from the current figure of ₹3 Lakh Crore, in a span of 5 years.
In a meeting, which was held on 6th December 2021 Union Commerce Minister Piyush Goel reviewed the functioning of the plastic industry, upon which the forum was opened for an exchange of opinions and viewpoints from various experts and reputed think-tanks on the progress and the prospective growth of the sector.
Speaking about the untapped potential in the industry of manufacturing plastic processing machinery, Mr Goyal highlighted the importance of the sector with regards to the generation of employment, subsequently stating the fact that with an increase in the turnover, there is a scope of employment opportunities flourishing in the industry and thereby achieving a significant contribution in the development of the economy.
Union Minister also stressed the aspect of quality improvement and spoke critically on the reliance on second-hand machinery for manufacturing purposes. Piyush Goyal also expressed his hope to see MSMEs rise and contribute significantly to the Government’s Atmanirbhar Bharat Mission and underlined the role of stakeholders therein, who would act as support systems for these enterprises with respect to their capital and technological needs.
With the financial and technical backing from corporate giants, the Centre is committed to the development of the sector from a holistic level and creating a conducive space for entities to upscale and progress. The government intends to extend its support by setting up labs under the aegis of BIS to ensure better testing of plastic materials by opting the World-class machinery.
