Indian polymer consumption is expected to reach 6.3 million metric tons for the current fiscal year, up from 5.8 million metric tons in the previous year, according to Deepak Lewale, secretary-general of the Organization of Plastics Processors of India (OPPI).
Indian polymer and plastic exports are expected to increase by 10 to 12 percent to about US$4 billion (27.3 billion yuan) for the fiscal year ending March 31, he said. India has not seen a dip in either exports or local consumption due to the global economic crisis, he pointed out.
"The Indian industry has weathered well the crisis," Lewale said in an interview at PlastIndia in New Delhi.
OPPI represents 200 Indian companies that process about 40 percent of the polymers used in the country.
Source : Right Trade Publishing