PlastIndia Conclave: Industry vows global supremacy, leveraging FTAs, INR 6-lakh crore investment, and circularity
The PlastIndia CEO Conclave 2026 served as a platform for India's plastics and petrochemical industry leaders to declare their commitment to achieving 'Vikasit Bharat.'
09 Feb 2026 | 40 Views | By Abhay Avadhani
The central theme of the PlastIndia CEO Conclave 2026revolved around leveraging recent diplomatic victories and massive domestic investments to transition from domestic growth to global leadership.
The USD 30-trillion aspiration and global shift
Setting the tone, PlastIndia Foundation president Ravish Kamat described the gathered leaders as the "architects of a modern industrial India," with the industry serving as a vital building block for the nation's USD 30-trillion economic goal. He emphasised that the sector, which contributes over 8% to India's manufacturing GVA, is moving from an era of "strategic resilience to strategic indispensability."
Nikhil Meswani, the executive director of Reliance Industries, reinforced this ambition, noting that India is on track to become the world's third-largest economy before 2030. He cited the unparalleled growth opportunity, projecting India’s polymer consumption to significantly increase from the current 17-kg per capita (well below the global average of 40-kg), translating to an estimated USD 100-billion opportunity in raw materials and an equal amount in downstream processing.
FTAs Pave the Path for Exports
A key element of the growth strategy is maximising India’s preferential market access secured through recent diplomatic breakthroughs. Union Minister of State for Commerce and Industry, Jitin Prasad, highlighted the significance of the Free Trade Agreements (FTAs) with the EU, US, and UK.
The Minister noted that the EU FTA alone is "truly historic," unlocking access to 27 countries and providing zero-duty access to nearly 90% of existing plastic export tariff lines within five years. He extolled industry CEOs to capitalise on these new global highways, stressing that the government's strong, decisive leadership is focused on taking long-term policy decisions that reinforce 'Ease of Doing Business' and set India’s position for the next few decades.
Focus on innovation, downstream value, and job creation
The conclave called for a decisive shift in industry focus, which included Finished Innovation. The leaders urged the industry to stop "exporting raw potential" and instead "start exporting finished innovation," especially high-precision plastic components critical for India's booming mobile, automotive, and medical device sectors.
Also, there wasa focus on scale and investment. The petrochemical industry is currently channelling over INR 6-lakh crore in investments, with further plans for a similar amount, aiming for a fully integrated and world-scale raw material supply chain.
The entire vision relies on strengthening the MSME ecosystem, which is already showing credit growth. Industry captains were urged to mentor smaller units in adopting essential technologies like automation, AI, and digitisation. The projected growth is expected to create an engine for employment, with the potential to generate 1-crore direct jobs in the plastics sector alone.
Commitment to circularity and responsible growth
Under the banner of 'Responsible Bharat,' the industry collectively committed to leading the global market in sustainable solutions. This includes pioneering recycling technologies and embracing the circular economy to future-proof businesses against international regulatory shifts.
The commitment was underscored by the launch of the PlastIndia Centre for Sustainability, Recycling, and Circular Economy at the PlastIndia International University, aimed at building world-class talent and R&D capabilities for a sustainable future.
Industry discussions emphasised that for circularity to work, it must be frictionless and cost-neutral for the consumer, compelling companies to focus on extending product life and integrating sustainability at the design and operational level.
The Plastics industry is making a decisive move to align its ambitious growth agenda for 'Vikasit Bharat' with a strong focus on circularity and waste management, particularly for traditionally challenging waste streams. Discussions at the CEO Conclave highlighted the contrasting progress between rigid and flexible plastics and announced major investments dedicated to bridging the recycling gap.
While the overall sector thrives as a vital building block for a prospective USD 30-trillion economy, leaders zeroed in on flexible plastic packaging as a critical constraint.
A presentation from the Alliance to End Plastic Waste noted that while rigid plastics like PET boast recycling rates well above 80%, the recycling rate for flexible packaging remains critically low at just 5%. This is largely due to the inherent challenge of the material being "hard to collect, hard to recycle."
To address this, the Alliance's India program is focused on investing in large-scale waste management infrastructure, especially in Tier 2 and Tier 3 metros. A case study highlighted a 300-ton/day waste sorting centre in Mathura, aimed at diverting municipal waste from landfills and moving toward zero waste.
Companies are pioneering in-house solutions for complex flexible materials. Cosmo First shared a breakthrough in recycling metalised film, successfully separating the metal layer to give the waste film a high commercial value. They are also creating marketable resin from waste films made of calcium carbonate.
The industry is committing significant capital to transform the unorganised recycling sector into a structured, scaled industry, reinforcing the vision of a 'Responsible Bharat' where a circular economy is key to future-proofing businesses.
Unlike previous decades, the recycling sector is seeing serious, organised investment, with reports of up to INR 100-crores being poured into single recycling units. This financial boost is driving the adoption of better technology, like advanced sorting and AI-driven material recovery, to integrate recycled plastics seamlessly into the supply chain.
The launch of the Plast India Centre for Sustainability, Recycling, and Circular Economy—a joint initiative with UMass Lowell — underscored the commitment to developing new talent and advanced R&D necessary for tackling the technical challenges of recycling and designing for reuse.
In contrast to the challenges in flexible packaging, the demand for durable and rigid plastics continues to drive infrastructure and manufacturing growth, creating massive markets for large-volume plastic products.
Plastics are an indispensable material for national mega-projects. The government's push for City Gas Distribution (CGD) networks, the Jal Jeevan Mission (utilising millions of kilometres of HDPE pipe), and lightweighting vehicles for electric mobility are fueling demand for high-performance, durable rigid plastics.
Industry leaders emphasised that plastics are a powerful "catalyst" for other sectors, particularly agriculture (drip irrigation, greenhouses) and exports of finished goods. The future lies in globally competitive areas like precision moulded products and woven plastics (FIBCs), where Indian manufacturing skill provides a strong competitive advantage. The industry’s overall goal remains to transition from merely exporting raw commodities to becoming an indispensable partner in the global value chain.