TOKYO (From news reports) -- Toray Industries aims to build new plants in India for making fibers and plastics used in products like diapers and cars, looking to supply companies selling everyday goods there amid rising standards of living, the company said Tuesday.

The Japanese materials maker is apparently investing 15 billion yen ($139 million) in the effort, for which it has snapped up roughly 350,000 square meters of land in India's southeastern state of Andhra Pradesh. India has been achieving stable economic growth, and has grown more appealing to manufacturers, under the administration of Prime Minister Narendra Modi.

The first order of business is producing non-woven polypropylene, or PP, used in paper diapers. Toray aims for production to start in April 2020, with annual output of 18,000 tons, the company said.

The plant will supply international diaper makers advancing in India, including Japan's Unicharm and Kimberly-Clark of the U.S. Toray is Asia's leading maker of non-woven PP, and possesses technology for tailoring materials to individual parts such as the back or side of a diaper to improve comfort and other aspects. India's non-woven PP market is growing by 16% annually, beating the average Asian growth rate of 9%.

Another plant producing high-performance plastic compounds for use in auto parts is set to be completed in fiscal 2019. The facility will produce a combination of nylons and other strong, heat-resistant plastic, fiber and rubber materials, aimed at supplying foreign automakers advancing in India. Details such as the investment amount and output capacity will be settled later.

In terms of gross domestic product, India is set to rise from seventh place worldwide in 2015 to third by 2030. Its per-capita GDP is also growing rapidly, and demand for everyday goods and automobiles is rising along with standards for quality of life. The country is also becoming a center of global growth as a trade hub for Middle Eastern and African countries.

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