Stumbled upon this video today, which says that there is a machine which can convert plastic to oil. Am not sure though of how much successful this has been or if this machine is available. But this video claims that lot of plastic can be converted back to oil.

From another reference on the web, found the following,

"Many think that this type of recycling is not a solution, but that instead the world should be seriously focused on the first “R” — which is reduce. We should shun single-use plastic (such as your average PET bottle or disposable container) altogether, they argue. The world’s oil resources are diminishing; does technology like this enable our denial of that fact, or is it a hopeful and constructive step in the right direction?

Others have concerns about pollution or toxic residue from the conversion process. Blest tells us that, if the proper materials are fed into the machine (i.e., polyethylene, polystyrene and polypropylene — PP, PE,  PS plastics), there is no toxic substance produced and any residue can be disposed of with regular burnable garbage. They also explain that while methane, ethane, propane and butane gasses are released in the process, the machine is equipped with an off-gas filter that disintegrates these gases into water and carbon.

Lastly, commenters from around the world are anxious to know if and where they can purchase a machine. Though the company still mainly produces larger, industrial-use machines, Blest Co. will be more than happy to hear from you. Please contact them directly at info@blest.co.jp."

I found this on http://ourworld.unu.edu/en/plastic-to-oil-fantastic/ The original page does not seem to open, and I picked this up from Google cache.

I wonder if anyone has used any such thing in India.