Strategies for Enhancing Competitiveness of Indian Small and Medium Plastic Products Manufacturing Units in Post WTO Regime

Abstract

In the present era of technology, the use of plastic products has become an integral part of most of the manufacturing industries. Asia has been the world’s largest plastics consumer for several years, accounting for 30 per cent of the world’s total consumption. The Top 10 Trading Partners for Indian Plastic products include USA, UAE, Italy, UK, Belgium, Germany, Singapore, Saudi Arabia, China and Hong Kong. In India, the Plastic Sector has been exhibiting a consistent export growth rate of 10 to 12% over the past few years.

This paper examines the issues of pressures and constraints, strategies for investments, competencies development, cost reduction, quality improvement for enhancing competitiveness of Indian small and medium plastic products manufacturing units in the post WTO regime.

The key findings of the study have been - (a) need to upgrade the technology in the Indian Plastic Industry (b) need for a strong and supportive Financial System to facilitate easy access to funds (c) quality improvement, cost reduction and innovations to increase product variety (d) inadequate Government support (e) Improvements in maintenance, process capability, and product design

Keywords: Manufacturing Strategy, SMEs, Plastic Sector, Employment Opportunities, Globalization, Performance, Pressures and Constraints, Technology Upgradation, Quality Improvement, Cost Reduction