Page 10 - Plastics News June 2021

AipmA At work

Webinars At AIPMA

Plastic Recycling and Waste Reducing Cost Through Trade
Management Finance and Incoterms

webinar was organised by MSME Chamber of nother webinar was organised by AIPMA along with Yes Bank
A Commerce Industry of India on 26th May 2021 Afocusing on Reducing Cost Through Trade Finance and
wherein quite a few speakers including Padma Shri Incoterms on June 4, 2021 After three very successful sessions
Rajgopalan Vasudevan, Dr Sameer Joshi , Hon. with YES Bank, this was the fourth session of the series.
Treasurer at Indian Plastics Institute, Mrs Sanchita The webinar began at 4 PM IST with Mr. Deepak Ballani
Jindal , Former Adviser (Scientist 'G') · Ministry of – Director General, AIPMA, introducing Mr. Chandrakant
Environment, Forest and Climate Change, Mr Indrajit Turakhia – President AIPMAs, Mr. Arvind Mehta – Chairman
Ghosh, Chairman MSME CII, Mr Arvind Mehta, Governing Governing Council AIPMA , Mr. Kishore Sampat – Senior VP
Council AIPMA, Past President – AIPMA &Plastindia AIPMA, Mr. Mayur D Shah – VP Finance, AIPMA , Moderator
Foundation shared their views on Plastics recycling and at the discussion and the subject expert Mr. HariHaraRam
waste management. Mahadevan– Vice President, YES BANK
The Session began with interaction with experts sharing Mr. HariHaraRam Mahadevan made the presentation
their views and thoughts on developing and execution of on basics of trade finance and its various factors that
a strategy in a forward towards reaching the goal.While would help in reducing costs. He explained Incoterms
almost everyone agreed to work creating a National as, basically a standard set of terminology, created by
strategy with a clear focus on implementing a policy the International Chamber of Commerce (ICC), used
on waste recycling and segregation with a categorically universally, defining the key parts of freight forwarding.
equal sharing of responsibility among the Industry and The use of Incoterms eliminates inconsistencies in
the government. language by giving all parties the same definition of
specific terms within a trade agreement. As a result,
Representing AIPMA Arvind Mehta Chairman the risk of problems during shipment is reduced since
-Governing Council AIPMA, Past President – AIPMA, all parties clearly understand their responsibilities in
PlastindiaFoundation , made a Presentation focusing on performing trade under the given contract.
circular economy. Making his point Mr Mehta pointed He also elaborated on various schemes like Interest Rate
out to the fact towards littering and if one were to Equalization Scheme (IRES) and Loan Protect.
continue littering the manner as of now than perhaps Under the IRES Scheme allowed till June 2021, exporters
the whole earth would be too less to accommodate. get a subsidy on interest provided on pre- and post-
According to Mr Mehta, one has to be rational and shipment export credit ranging between 3 per cent
logical while pursuing their business goal and equally and 5 per cent. The banks provide credit at the lower
keeping the environment factor in mind. He advised interest rate to exporters and are later reimbursed by
following the mantra of 9R’s for maintaining the the government. The scheme might be extended by the
environmental s balance. government depending upon the situation prevailing then.

Further he also suggested that it’s high time the Loan Protect refers to insurance schemes that banks
industry has adopted the approach of ‘Plastics to Fuel are providing for Companies that take a loan during this
/ energy’ and that’s the way forward for not only will pandemic where in if the owner passes away the insurance
it eliminate the waste but also make its contribution company pays off the loan amount and the beavered family
towards the National Goal of making India Energy rich is not under pressure to clear the debts of the deceased.
in near future. After the presentation the floor was left open for Q&A
round and Mayur D Shah handled it well to ensure that
no query was left unanswered. The webinar was attended
by over 100 people from the Plastic Industry.
Mr. Mayur D Shah – VP Finance, AIPMA extended the vote
of thanks to conclude the webinar.

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