Sunday 19 January 2020
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business-standard - 1 month ago

Paper industry to capture 25 pc market share of Rs 80,000 cr single use plastics by 2025

Amid a growing debate over impact of single use plastics on environment, paper offers a sustainable option and can capture a fourth of the Rs 80,000 crore single use plastics market by 2025, if its use is totally banned by the government, a new study said. India generated 26,000 tonnes per day of plastic waste in 2017-18, of that only 60 per cent was recycled and the rest ended up as litter on roads, in landfills or streams. Single use plastic industry is close to Rs 80,000 crore right now and growing. Packaging accounts for a third of India s plastic consumption, and 70 per cent of plastic packaging is turned into waste in a short span. While uncollected plastic waste poses a huge threat to species on land and in water, single-use plastic bags and styrofoam containers can take up to 1,000 years to decompose, said the study released at the world s largest paper fair, PAPEREX organized by Hyve India, a 100 per cent subsidiary of Hyve Group Plc, London, last week. Paper, on the other ...


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