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Plastics and their role in economic development of India

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K.K.Chahal, Ramandeep Kaur and S. Kaushal

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Abstract

Indian Journal of Economics and Development
Year : 2013, Volume : 9, Issue : 2
First page : ( 184) Last page : ( 193)
Print ISSN : 2277-5412.

Plastics and their role in economic development of India

Chahal K.K., Professor-cum-Head, Kaur Ramandeep, Ph.D. Scholar, Kaushal S., Teaching Assistant
Department of Chemistry, Punjab Agricultural University, Ludhiana-141004, E-Mail: drkkchahal@yahoo.com

JEL Classification: F63, J21

Online published on 1 August, 2013.

Abstract
The first man made plastic was created by Alexander Parkes called Parkesine from cellulose. Plastics are usually synthetic, most commonly derived from petrochemicals but many are partially natural. A plastic is primarily made up of binder, plasticizer, fillers, pigments and additives. Plastics are of two types namely thermoplastics and thermosets. The one critical factor that plagues the Indian plastic industry is the common perception that plastics are not environmentally friendly. This is mainly due to poor awareness about the energy saving properties of plastics and the benefits to industries that utilize plastics. India is the highest recycler of plastics. The Indian plastic industry is promising industry and is creating new employment opportunities for people of India. The per capita consumption of plastic products in India is growing. The Government of India is trying to set up the economic reforms to elevate and boost the plastic industry by joint ventures, foreign investments and entrepreneurs are trying to provide high quality plastic products so that it becomes a booming industry.