Delhi, April 11: At least 10 Plastic Parks in India are accelerating growth of the Polymer-based Industrial Ecosystem.
The Department of Chemicals and Petro-Chemicals is implementing the Scheme for Setting up of Plastic Parks under the umbrella scheme of New Scheme of Petrochemicals, to support setting up need-based Plastic Parks, with requisite state-of-the-art infrastructure, enabling common facilities through cluster development approach, to consolidate the capacities of the domestic downstream plastic processing industry.
The objective is to consolidate and synergize the capacities of downstream plastic processing industry to help increase investment, production and export in the sector as well as generate employment. Under the scheme, the government of India provides grant funding up to 50% of the project cost subject to a ceiling of Rs.40 crore per project.
A plastic park is an industrial zone specifically designed for plastic-related businesses and industries. It aims to consolidate and synergize the capacities of the plastic processing industry, promoting investment, production, and exports while generating employment. These parks also focus on achieving environmentally sustainable growth through waste management and recycling initiatives.
Plastic Parks have emerged as an integral part of India’s strategy for managing plastic waste, promoting recycling, and supporting the chemical industry. 10 Plastic Parks have been approved so far in different States.
India stands 12th in the world export of plastics, as per the 2022 World Bank estimates. It has grown exponentially from 2014, when it was worth just 8.2 million thousand USD, as compared to the 2022 estimates, where it reached 27 million thousand USD. This growth has been a result of the constant efforts by the Indian government to promote the production and export of plastics, like setting up Plastic Parks.
The Indian plastics industry was large but highly fragmented with dominance of tiny, small and medium units and thus lacks the capacity to tap this opportunity. The Department of Chemicals & Petrochemicals formulated this scheme with a view to synergize and consolidate the capacities through cluster development and enhance India’s plastic production and export capabilities.
