FICCI releases study on Strategies for Sustainable Plastics Packaging in India

23 October 2020: In India consumes around 10 million tons of plastic packaging each year amounting to $13 billion in value. Against this back drop, FICCI released their study titled: ‘Strategies for Sustainable Plastics Packaging in India- A USD 100 billion Opportunity till 2030.’ Commenting on the study, Amitabh Kant, CEO, NITI Aayog said that currently, India is capturing only a fraction of this value due to number of reasons like poor packaging design, low wastes collection and inefficient recycling, etc. If the current state continues, in the next 10 years we will be losing around $133 billion.

The report presents an approach to capture $100 billion lost through eight high value interventions. “To realize this value, we must take a holistic value chain approach from reducing consumption in designing better packaging to reusing as much as we can,” he said.

Five system-level accelerators which will enable India’s sustainable plastic packaging movement include:
# Build a national level flagship campaign
# Align on definitions & standards
# Expand Plastic policy framework
# Invest in R&D and pilots
# Equip the internal operating model