India's plastic market is a magnet for Chinese companies

       The first feeling of the five-day Bombay international plastic show is that it's hot! Why isIndia's plastic show so popular? In short, it is inextricably linked toIndia's huge market and its voracious demand.

       According to Forbes magazine,India's GDP in 2016 was 153 trillion rupees, or about $2.3 trillion. For the first time in more than a century,India's economy has surpassed that of theUK, making it the world's fifth largest country after the us,China,JapanandGermany. According to the IMF,India's GDP growth in 2016 was 7.6 per cent. Good macroeconomic performance highlightedIndia's huge economic strength.

India's plastic market is a magnet for Chinese companies

         On January 20th, internal conference organised by the AIPMA, India's largest private conglomerate, the reliance group, chairman of the strategic development of Kamal p. Nanavaty is introduced, according to the current development of India has advantaged advantage.India, one of the world's fastest-growing economies, now accounts for 17 per cent of the world's population, with a huge Labour force and a consumer group advantage. It is the world's largest motorcycle manufacturer and the fifth passenger car market.Indiahas 1 billion mobile phone users; It is the world's fourth largest energy consumer and oil refiner. Having the world's second largest textile manufacturing capacity, and the world's second largest food producer...

         To Indian development miracle again, at present the government ofIndiahas opened four movements, respectively for the "smart city", "clean movement inIndia", "affordable housing" and "digitalIndiaplans". The Indian government plans to build 100 smart cities, and the proportion of urban dwellers will reach 35 percent by 2020. By 2022, 65 million new homes will be built. Transportation aspect, by 2020, the government plans to invest $150 billion for highway and waterway transportation, $140 billion for the railway transport, and developed into the world's third largest aviation market. Moreover, e-commerce has just emerged inIndiaand will experience rapid development in the future.

         TheUnited States,China,Japan,France,South Koreaand theunited Arab emirateshave all invested heavily inIndia. According to the u.s.-india bilateral investment agreement, theUnited Stateswill invest $42 billion inIndiaover the next two to three years.Chinawill invest $20 billion in infrastructure over the next five years.Japanwill invest $35 billion in infrastructure and $4.5 billion for the Delhi - mumbai industrial corridor.FranceandSouth Koreawill also invest heavily in infrastructure and smart cities.

         India's plastic market is also booming. According to AIPMA, there are significant regional differences in the consumption of plastic products inIndia, including 47 percent in westernIndia, 23 percent in northIndia, 21 percent in southIndiaand 9 percent in eastIndia.Indiacurrently consumes just 11 kilograms of plastic per capita, compared with 60 kilograms per capita in developed countries.Indiaplans to reach 30kg per person by 2020.Indiahas begun to take steps such as setting up a plastic industrial park to promote the development of the plastics industry.

        India's plastic consumption is expected to skyrocket in the next five years as the country's consumption of plastic products continues to rise.India's plastic market will face unprecedented opportunities asIndiahas a huge plastic gap and the consumption of plastic products is extremely strong.

         In the coming years,India's packaging, automobile, household appliances, agricultural plastics and infrastructure will continue to drive the development of the plastics industry. In packaging, the amount of polymer used will increase from 5.2 million tons in 2011 to 10 million tons in 2020, mainly in food processing, fast-moving consumer goods and cosmetics. The auto industry has seen rapid growth in the Indian car market, while lightweight cars will bring new development opportunities for plastics, which currently use about 70 kilograms of plastic. In the future, the light weight, per capita income and the rise of the middle class will drive the development of the Indian automobile market, which will drive the growth of plastic consumption.

 

 


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