Mumbai : The Union government is considering Technology Upgradation Fund (TUF) for the plastics industry. The

top officials from the Department of Chemicals and Petrochemicals in the Union Ministry of Chemicals & Fertilizers is proposing to meet the representatives of the industry within next few days to work out the detailed proposal for the TUF scheme. The government is also encouraging the setting up of Plastics Parks in various states to help the growth of the plastics industry, which is so important for the economy as well as employment generation.

This was stated here this morning by Mr Indrajit Pal, secretary of the Department of Chemicals and Petrochemicals, while inaugurating the 9th Plastivision India 2013 show, organized by The All India Plastics Manufacturers’ Association at Bombay Exhibition Centre, Goregaon. The 5-day exhibition where more than 1,225 leading Indian and foreign companies are displaying their innovations, latest products and technologies will remain open till December 16.

Mr Pal further informed the august gathering of who’s who in plastics industry present at the inaugural function, that the Ministry has already cleared two plastics parks, one in the state of Madhya Pradesh and one in Orissa and some funds have already been disbursed. He complimented the AIPMA for organizing this show, which will help the industry in improving the quality and product.

Mr. Avinash Joshi, joint secretary in the ministry, on this occasion said that the petrochemical industry is playing a key role in the development of the economy and he felt that this exhibition will create a new era for plastic industry. He emphasized the need for more spending on research and development to meet the expected growth in future demand, The secretary and joint secretary of the Ministry emphasized the need for early steps to remove the negative image of the industry just because of small problem of carry bags.

Mr Pal also said that “India has emerged as a preferred center for establishing manufacturing facilities for plastics goods and that Plastivision 2013 would give impetus to plastics exports from India. He further mentioned that the Plastics Industry is growing rapidly and is expected to touch 20 billion dollars by the end of 2020”.

Mr Raju Desai, added Chairman NEC PVI-201 said “One of the factors that indicate the country’s impending growth in the plastics industry is our per capita consumption which is the lowest in the world. The scope of reaching an augmented level of consumption remains certain due to the inevitable nature of plastics and its incorporation in everyday life spoke about the excellent opportunity that the fair provides for all those industries that are connected with plastics and tremendous prospects that it would create”.

Mr Arvind Mehta, Chairman NAB PVI-2013 said “Compared to the business generated last year which was around Rs 1000 crores, this year we expect a business of  Rs 6000 crores and atleast 100,000 visitors at Plastivision India 2013. We are extremely optimistic that the ministry will be able to resolve the industry’s problems of finance as well as sharply fluctuating prices of raw material every month”

Source : Lokesh Shastri