LEADERS SPEAK will lead to a further increase in the demand for plastics, not to forget the fact that consumer electronics and automobiles have surfaced as the major consumer of components made out of plastics. Healthcare is yet another sector that uses plastic in a big way for packaging. Similarly, moulded furniture, made out of plastics, is becoming increasingly popular, thereby contributing in a big way to the demand and use of plastics. Given the various applications of plastics, the industry is, therefore, no longer restricted to simple processing.
K 2010 platform
Indian plastics industry is expanding at a phenomenal pace. Major international companies from various sectors such as automobiles, food processing, healthcare, etc have set up large manufacturing base in India.
The total number of exhibitors this year is 3,100 and targeted visitors are about 2,50,000. The number of German exhibitors at K 2010 totals 1,058. The contingents from China, India and Taiwan will be strongly represented this year. For the first time, exhibitors from Armenia, Chile, Indonesia, Pakistan and Vietnam will participate in the K trade fair. The show will focus on engineering plastics, innovative & application-oriented plastic compounds and environmentfriendly production lines. At K 2010, the main theme of VDMA Plastics and Rubber Machinery Association is to include piracy protection, market surveillance, energyefficiency and education. Further, with increase in export of German plastics processing machinery to India by 39 per cent in the first quarter of 2010, the German manufacturers are upbeat about the future development in the Indian plastics industry. Hence K 2010 would offer the ideal platform for technical discussion to find optimal solution for the Indian customers.
Future plans Over the years, India has made significant progress in the industrial world with healthy economic growth. On purchase power parity basis, it is one of the top five global economies and is
expected to be the third-largest by the turn of this decade. Plastics industry, one of the fastest growing in India has a vital role to play in its development. Indian plastics industry is expanding at a phenomenal pace. Major international companies from various sectors such as automobiles, electronics, telecommunications, food processing, packaging, healthcare, etc have set up large manufacturing base in India. Therefore, demand for plastics is rapidly increasing and soon India will emerge as one of the fastest growing markets in the world. The next two decades are expected to offer unprecedented opportunities for the plastics industry in the country. This would necessitate industry initiatives to foster investments, grow the market, upgrade quality standards, enhance global participation, and encourage the Indian industry to adopt & adapt to world-class technology and manufacturing practices.
Favourable factors for business in India India is projected to see the largest growth in its share of foreign investments across all sectors and is likely to become the world leader for investment in manufacturing. Domestic demand is high and growing steadily, thanks to an expanding economy. There is substantial local demand for many products. In India, engineering skills, especially in the IT sector are exceptionally high. Further, fullyowned subsidiaries are allowed here, so that international players can have complete control over operations. Added to this is the well-established IPR regulation, which is becoming increasingly important. India has good English-speaking, young population, educated manpower generated from the high standard engineering and management colleges. Hence, the country offers a conducive opportunity for overseas players to set up manufacturing facilities.
October 2010 | Modern Plastics & Polymers
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