First ever China India Plastics Industry Summit 2007, organized by Plastindia Foundation, Mumbai, in association with China Plastics Processing Industries Association, Beijing and Adsale Marketing Services, Hong Kong, concluded successfully on 20th May 2007 at Guangzhou. There was overwhelming response from the Chinese & Indian companies with more than 200 Chinese delegates and 85 Indian delegates participating in the unique Summit. The Summit was jointly addressed by Hon. Mr. B. K. Handique, Minister of State, Ministry of Chemicals & Fertilizers and Parliamentary Affairs, Govt. of India and Hon. Mr. Chen Shineng, President, China National Light Industry Council.

Mr. Handique emphasized on the need for China & India to work together in the global arena as partners instead of competitors. He further stated that the bilateral trade between China & India is targeted to exceed US$ 40 billion by 2010. He stressed that now the plastics sector has been deregulated and Indian policy is very investment friendly for the overseas investors with 100% foreign direct investment being permitted.

Mr. Chen Shineng expressed that the trade between the two countries is growing at the rate of 30% per annum. In the last two quarters the trade has been registered at US$ 8.2 billion and the growth has been 58.5% over the same period in the previous year. The target of US$ 30 billion by 2008 was exceeded in 2006 itself. Mr. Chen Shineng stated that the Chinese approach in economic restructuring has been very scientific and aimed at resource preservation.

The Summit focused on status of plastics industries in China & India, areas of synergy between the two countries, opportunities for plastics processing machines & moulds and capturing the global plastics value chain.

Mr. Liao Zheng Pin, President of China Plastics Processing Industries Association, emphasized on the need to upgrade the standards for plastics products adopted by Chinese companies during 1980's to suit modern requirements.  He stressed on innovation, upgradation of quality, reduction in energy consumption and R&D of degradable plastics for future activities of the industry and mutual cooperation.

Mr. Liao Zheng Pin, in his presentation said that there are over 60 thousand plastics processing companies in China, out of which companies with more than RMB 5 million turnover increased from 11,276 in 2005 to 12,860 in 2006. More large scale companies have come into being and in 2006 number of companies with sales over RMB 1 Billion was 38 with sales over RMB 2 Billions was 15 and over RMB 3 Billions was 6 companies. Encouragingly the share of medium and large size company's is going up.

In 2006 China exported 24,000 units of plastics machinery worth US$ 0.5 Billion, which was 35% more over the previous year. In 2004 there were 20,000 companies engaged into manufacturing plastics moulds with production value of more than RMB 53 Million. In 2006, the production of injection machines exceeded 70,000, extrusion machines exceeded 23,000 and blow moulding machines exceeded 5,000.

Mr. Arvind Mehta, President, Plastindia Foundation, suggested that Chinese & Indian delegates should find out niches for working together for win-win situations. India has strengths in the field of plastics machinery designing & manufacturing, softwares for running the machines and skilled technical manpower. Indian companies can offer cooperation in these areas. Chinese companies have strengths in dies & moulds making for plastics finished products and can offer the same to Indian companies. He suggested use of synergy in working together in third countries. India offered considerable opportunities as it is projected to be third largest polymer consumer by 2012 after USA & China.

Mr. Mehta further stated that Indian delegates were able to get insight into functioning of technical training institutions in Guangzhou and would work to find out possible areas of mutual cooperation in the field of manpower development.

The summit was followed by visits to select industrial units for manufacturing plastics machinery and finished products.

Hon. Mr. B. K. Handique had one to one meeting with Hon. Mr. Chen Shineng and discussed mutual cooperation on plastics. Mr. Chen Shineng also hosted a luncheon in the honour of the visiting Indian minister and the Indian delegation of the plastics industry.