Page 68 - Plastics News January 2023

IN THE NEWS

PlastIndia urges Centre to lower import duty on polymer

n pre-budget expectations, PlastIn- ing on renewable energy, Doshi said The Government should make land
Idia President said, the custom duty this presents an opportunity for the acquisition easy by identifying zones
on finished plastic product should be plastic industry. However, at present of land that are non-agricultural. Land
a minimum of 20 per cent to support 90 per cent of the components for so- from those zones should be made
domestic industry lar panels and windmills are imported available easily without industries
and the products are only assembled having to go through the formality of
PlastIndia Foundation (a body of the
major association, organizations, and in India. converting agricultural land for non-
institutions connected with plastics) To encourage the local manufactur- agricultural purpose, he said.
has asked the Government to lower ers, the Custom duty on the import of The Government should start a new
import duty on polymer and increase components should be at least 20 per formula wherein developed land
the custom duty on finished plastic cent. He said the plastic industry can should be made available to industries
products in the Union Budget 2023- play an important role in manufactur- on long-term leases. This will signifi-
24. ing of some of the components. cantly lower the investment and make
industries globally competitive. China
In his pre-budget expectations for the Stressing the need to make uninter-
plastic and polymer industry, Jigish rupted power available at less than is using this formula for a very long
Doshi, President of PlastIndia Founda- `5 per unit, he said India has a high time, he said.
tion, said the import duty on polymer electricity rate, and power fluctuation Easy finance at reasonable interest
should be between 5-7.5 per cent. is also very high. rates from banks and NBFCs should
be made available to the industry, he
Stating that import is inevitable as On labour laws, Doshi said: “India
India does not produce enough poly- should have a free labour law, how- said.
mer, he said import duty needs to be ever, the wages should not be so high Urging the Government to keep the
lowered to make the Indian plastic in- that it makes the manufacturing in- compliances at minimum, he said
dustry more competitive. dustry globally uncompetitive. Labour if there are any technical errors in
Custom duty on the finished plastic law should come under the purview following these compliances then
product should be a minimum of 20 of the Central government and wages it should be handled by a separate
per cent or more to support the do- across the country – in tier 1, tier 2 court. “It should not be treated as
mestic plastic processing industry, he and tier 3 cities -- should be uniform.” criminal activity,” he added.
said. He said GST should not be higher
than 12 per cent across product cat-
Stating that the Government is focus-
egories.

Recycling laws should be stricter than banning plastics

ME: Seminar on 'Export and Busi- tic recycling laws. annual turnover of India's plastics busi-
Aness Opportunities in Plastics In- A seminar on 'Export and Business ness is Rs 3 lakh crore. India consumes
dustry' held in Aurangabad. Opportunities in Plastics Industry' was 18 to 19 kg of plastic per person an-
There is a misconception about plas- held on the second day of Advantage nually. There is a huge opportunity
tic worldwide that it is harmful to the Maharashtra Expo, organized at Au- for Indian industries in the field both
environment. In fact, plastic is one of ric Shendra DMIC. Experts Srikrishna domestically and in exports." Mrinali
the most beautiful and amazing things Amlekar and Mrinali Ille guided the Ille said, "We are aware of the very
in the world, without which one can- participants on behalf of Plex Coun- limited use of plastic. But, it is used
not imagine daily life. The plastic in- cil of Plastic Entrepreneurs. Amlekar in agriculture, medical, textile, optic,
dustry officials opined that there is a said, "The plastic business is growing horticulture, electrical, packaging and
need to tighten and enforce the plas- at an annual rate of 8.2 percent. The manufacturing of daily use items. If

68 PLASTICS NEWS January 2023