The import value of plastics waste or scrap to India has shown significant fluctuations from 2013 onwards. Between 2013 and 2015, there was a sharp decline after a peak in 2014. From 2016 to 2023, the values mostly showed a downward trend with occasional modest increases. The year 2023 saw a small decline of 1.06%, standing at 67.976 million USD. Forecasts for 2024 onward predict a continued decline, with an average yearly reduction (CAGR) of -0.9% over the next five years, ending with 63.97 million USD in 2028.
Future trends to watch for:
- Renewed regulations on plastic recycling policies.
- Technological advancements in recycling processes reducing import needs.
- Shifts in global plastics trade due to environmental concerns.
