From the Presidents Desk
Vol No. 13, Issue No. 09, March 2025
Dear Members,
Greetings from Organization of Plastics Processors of India!
I am interacting with you as we approach the end of the Financial Year 2024-2025.
Fiscal deficit is targeted at 4.9% of GDP in 2024 – 2025, lower than the actuals for 2023- 2024 (5.6% of GDP). The lower fiscal deficit is on account of receipts growing at 15%, which is higher than the expenditure growth of 8.5% GDP growth estimate. The nominal GDP is estimated to grow at a rate of 10.5% in 2024 – 2025.
In Financial Year 2024-2025, the Indian Plastics Industry is expected to continue its growth with projections suggesting a market size of USD 48.5 billion in 2025 and a CAGR of greater than 6.4% to reach USD 68 billion by 2030.
Organization of Plastics Processors of India had organized an unique event – “Pearls of Wisdom from Startup Founders” on 7th March 2025 at Jio World Convention Centre. We had 11 founders of Startups making presentations on very important topics in this event. A detailed report of this event appears in this issue of Plastiscope.
Since last two months the Corporate India has been constantly debating on – Impact of Reciprocal Tariff on Products being Exported to USA. I assure all members that OPPI has been working very closely with the Department of Chemicals and Petrochemicals on this subject to ensure that there is no unreasonable customs duty on plastic products exported from India to USA. We have also represented on the Non – Tariff Barriers faced by Indian Plastic Processors while exporting to USA.
It was informed to you earlier that OPPI has organized a visit to CIPET, Chennai and also to the plant of Shibaura Machine India Pvt. Ltd., Chennai on 11th April 2025. The objective of this visit is to ease the process of sourcing the Plastic Engineers / Technologists.
Shibaura being a Japanese company, the participants will be able to observe best practices in manufacturing and automation. A visit to Chakan Plant of Mahindra’s EV Car Project is organized on Friday 9th May 2025.This visit is on first come, first served basis.
With Best Wishes,
Pradeep Rathod
President