Know the growth of rubber and plastic industry

Rubber and plastic industry of India
Rubber industry is a good sector for the Indian economy and is also the third largest producer, and the country is also recognized as the 4th consumer of natural rubber. The rubber industry is a very old and traditional industry dating back to 1902. Since then farmers have utilized it to their advantage and today it is a flourishing sector. The rubber industry has 6000 manufacturing units of small, medium and large scale industries and a turnover of $ 5.6 billion. The employment provided by the sector is up to 4 lakh. Various related industries are attached to the rubber industry in one way or the other.

Similarly, the plastic industry is also not far behind. You can see the growth which is apparent and the entry of foreign investors who are keen to invest heavily here due to the availability of the raw material, cheap labor cost and favorable market within and outside the country. The machinery available here come with international technology that is also operated by qualified and well-trained engineers. Plastics find application in various products and mostly in the packaging sector, and that is why there is a huge demand for plastics. Rubber and plastic are quite important for exports.

The role of government
The government policies play a significant role to help the industry grow and expand. The government is proactive when it comes to rubber and plastic industry. There are development plans that will add value to the industry and help in providing infrastructure and production. There are plans for quality petrochemical products at competitive prices with eco-friendly technologies. The direct influence on the economy of the country also makes the government think about the plans for the industry.

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