Is India “Driving Economic Growth through Plastics”?

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PROCESS: How will this exhibition serve as a knowledge platform to the industry stakeholders?

KADAKIA: Apart from the exhibition, a separate event for finished plastic goods titled ‘PROPLAST’, which is in its fourth edition, is being organized. The key objective of this show is to exhibit finished plastic goods produced only by Indian manufacturers on a global stage. A conference is also scheduled on the second and third day of the exhibition. This year’s theme is ‘Gateway to innovations’. The conference will highlight various innovations and technologies currently available in the industry and also provide an excellent networking opportunity with industry stalwarts. The Asia Plastic Forum meeting, along with other B2B meetings, is also being arranged during the mega event.

The exhibition aims to significantly expand the business horizons of all those who participate, regardless of their origin and business size owing to the sheer volume of opportunity it will provide as well as the immense amount of learning that will be available to one and all.

PROCESS: The Foundation has taken immense measures to ensure that Technology Upgradation Fund Scheme (TUFS) is implemented for the plastics industry in order to provide more opportunities for the MSMEs (especially SSI units). What is the progress on it so far and how will it help the industry?

KADAKIA: The TUFS is a scheme that aims at technology upgradation through the provision of upfront capital subsidies to SSI units that will help modernize their equipment and processes. The ceiling on the subsidy is `1 crore and the rate of the subsidy is 15 per cent. This will be beneficial to the industry, especially the MSMEs. The scheme is currently present for the textile and petrochemical industries, and will do the plastics industry that employs about 3.6 million people good.

The PlastIndia Foundation recently held an industry meet to discuss the impact and implications of TUFS. The Indian plastics industry has been consistently and unanimously requesting for TUFS as a majority of the units in this industry are small scale and the availability of finance has proved to be a major problem in the past. Additionally, this support from the government would make the plastics industry more competitive and enable it to achieve success on a large scale.

TUFS for the plastics industry will cover existing SSI units registered with the State Directorate of Industries and also newly registered SSI units that have set up their facilities using appropriate and proven technology duly approved by the Governing and Technology Approval Board (GTAB).

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Interview Plastic Industry

Is India “Driving Economic Growth through Plastics”?