Page 19 - Plastics News June 2019

PRESS RELEASE

consider reimbursement of state levies and local taxes. per cent today, is expected to improve to 60 per cent by
Industry has however reiterated that it strongly supports 2023-24 and the revenue growth too will be around 9 per
the Technology Upgradation Fund (TUF) proposal of cent CAGR by then. The endeavour will also help in saving
Government of India. “There should be capital Investment energy by 30 to 60 per cent,” said Mr. Lalit Kumar Singh,
subsidy of 10 per cent for plastics processing machines Vice President, North, AIPMA. While supporting Central
and 30 per cent for plastics recycling machines. We have Government's concern of importing safe and quality
demanded Rs 3,000 crore subsidy (Rs. 600 crore per material, Industry has requested Government of India to
annum) for TUF which will help us in generating additional avoid mandatory specifications on raw material or fix them
employment of 800000 by 2023-24 and will also help in at wide tolerance after due consultation with the Indian
production of plastic to 34 metric tonne from existing plastic processing industry. Industry has demanded that
production of 20 metric tonne.It will also help in doubling all operational difficulties in registration and renewal is
export to USD15.0 billion in next five years from USD 8 taken care by BIS before making the standards mandatory.
billion today. The capacity utilization which is around 40 Manufacturers following ASTM or EU standards should be
exempted from taking BIS standards.

Press Clippings Published in leading News Papers in Delhi & Mumbai

on 20.6.2019

19 June 2019 Plastics News