The fair will be attended by over 1,500 exhibitors from 30 countries. “Nine countries, including USA, China, UK, Germany, Italy and Turkey, will have special pavilions. The event will showcase new products and machinery from domestic and overseas manufacturers,” informed Raju Desai, president of the Association.
The exhibition will also have a job fair, facilitating a platform to plastics engineering students and prospective companies. Around 150 companies are likely to participate in the fair.
Talking about the trend in the market, Desai assumed that the prices of plastic items, which have seen a surge by 15-20 per cent in the last three months, will not fluctuate any further in the current financial year.
Rupee de-valuation and spike in crude oil prices have impacted plastic prices over the past quarter.
India currently produces about 10 million tonnes of plastics through 50,000 manufacturers, a majority (90 per cent) of whom are MSMEs. Packaging and pipe industries are the main consumers for the plastic industry. According to Desai, in a span of five to six years, plastic consumption in India will double from the current per capita consumption of 8.5 kg. Desai is optimistic that, the government’s initiative to set up five plastic parks in Gujarat, Uttar Pradesh, Madhya Pradesh and Odisha will increase the production significantly.