Use of Plastics
Index : 2,070 | 1Yr : +49.64% | 1Mo : +16.64%
Category : Sectoral Trackers
Min Investment : 14,026
The plastic industry is highly diversified with a wide range of products from plastic extruded goods, laminates, moulded items, writing instruments, bags, sheets, PVC etc. While the government plans to increase the manufacturing contribution to GDP to 25 percent by 2022, the plastic industry is expected to benefit to a large extent.
There is a growing scope for use of plastics in the agriculture sector known as 'Plasticulture'. There are variety of applications which can possibly transform the quality and quantity of crop production using techniques like sprinkle irrigation, drip irrigation, lining of reservoirs, greenhouse structures and tunnels. The food processing industry is growing in India and plastic is universally used as a packaging material because Its versatility of being used as a flexible and rigid packaging material. The industry will undoubtedly continue to grow due to its wide range of uses and irreplaceable benefits.
Invest in top companies that manufacture different forms of plastic in India and whose financials are better off than their peer group.