In 2023, the import value of plastics and articles thereof to India stood at an actual figure of 18.1 billion USD. The forecasted data show a consistent year-on-year increase: 2024 (3.8%), 2025 (3.8%), 2026 (3.6%), 2027 (3.4%), and 2028 (3.2%), leading to a compound annual growth rate (CAGR) of approximately 3.6% over the next five years.

Future trends to monitor:

Government policies on plastic import regulations and tariffs.
Evolving demand in domestic industries such as packaging, automotive, and construction.
Global oil price fluctuations affecting raw material costs.
Advancements in sustainable and biodegradable plastics could adjust import patterns.
Technological innovations in the domestic production of plastics.