Page 61 - Plastic News Issue August 2025
P. 61
BUSINESS NEWS
target for food contact applications for 2025-26 "Recyclers have taken bold steps, investing in
over the next three years. world-class food-grade compliant r-PET plants.
But if enforcement remains weak and brand
This leeway, according to industry insiders, has owners keep defaulting, we fear the entire cir-
emboldened some brand owners to assume an cular economy framework could collapse, in
eventual rollback or relaxation of the target, re- similar lines to what is happening in EU Nations,"
sulting in delayed or avoided purchase of r-PET. Shailendra Singh, Director General, APR (Asso-
ciation of PET Recyclers), Bharat, said.
The r-PET industry has so far invested an esti-
mated `7,500-8,000 crore, with a total planned As India positions itself as a global champion of
capacity of 4 lakh metric tonnes, of which 1.5 lakh sustainable development, the disconnect be-
MT is already operational and FSSAI-authorised, tween regulatory ambitions and on-ground real-
and another 1.5 lakh MT scheduled to become ity now poses a serious threat to the credibility
FSSAI authorised soon. of its green transition narrative.
Industry voices warn that this disconnect be- Source - https://www.livemint.com
tween policy intention and ground-level imple-
mentation may undo years of progress and
jeopardize India's international climate and sus-
tainability commitments.
Oil markets brace for impact as Trump’s
tariffs take effect
S enacts tariffs on over 90 countries, adjusted rates.
taking average rate to 19.7% 2025 oil
Udemand growth forecast down from 1.3 Tariffs on over 90 countries range from 10% to
million b/d to 635,000 b/d Mexico, China rates 50%, and bring the US average rate to 19.7% af-
still to be determined, legal challenges ongoing ter adjusting for sector-level exemptions.
Aug. 7 was deadline day for US President Don- In the last four months, the EU, Japan, UK and
ald Trump's sweeping import tariffs, and oil mar- others have all secured lower tariffs by striking
kets are preparing for the aftershock now that trade deals, while Vietnam was surprised with a
new measures are in force.
higher rate after a unilateral decision by Trump.
Trump's April 2 "Liberation Day" unveiled the India is also readying for a 50% rate, double its
country's most aggressive tariff regime since the initial level, after a clampdown on its Russian
1930s. But after months of frantic negotiations, trade. Meanwhile, key trade partners Mexico
it was midnight Aug. 7 that the US imposed its
and China remain locked in negotiations.
August 2025 PLASTICS NEWS 61
