PRESIDENTS DESK

From the President’s Desk                               
 

 

Dear Members,

 

 

The eighth edition of the Seminar on – “Crucial Role of Maintenance in Plastics Processing Industry” was held on 20th September 2019 at Hotel Hindusthan International, Kolkata. A detailed Report on the Seminar and the Photographs are published in this issue of Plastiscope.  OPPI Secretariat is exploring feasibility of Organizing the Seminar on –“Crucial Role of Maintenance in Plastics Processing Industry” in Sri Lanka, Bangladesh and Nepal.

The Government has reduced Corporate Tax from 30% to 22% for Domestic Manufacturers and from 25% to 15% for New Manufacturers. Secretary (C & PC) held a meeting on 30th September 2019 to discuss the “Strategies to leverage reduction in Corporate Tax and other Fiscal Relief “.

Organization of Plastics Processors of India made the following submissions at the Seminar:-

  • For new Manufacturing Company the proposed Income Tax rate is 17.1% which is the lowest in Asian country.   Therefore efforts to be made for getting FDI investment to come to India. This will help in job creation in Manufacturing as well as Service Industries, which are directly associated with manufacturing Company for designing, programming etc.

 

  • The new corporate tax rate for existing Domestic Company is reduced to 25.17%, which is lower by 30% than last year. Thus, the existing domestic Companies will have more funds to invest in new projects and expansion.

 

  • The reduction in  Corporate  Tax Rate  will help the Country to come out faster from worldwide slow down on account of   better post tax return, job creation , new FDI  etc.

 

  • For FDI investors, India will be the ideal destination on account of   lowest Corporate tax, stable Central Government, young educated population, infrastructure, structured Government policies.

A meeting was held at CIPET, Chennai to consider the Technology Up-gradation Fund. Organization of Plastics Processors of India has also made suggestions for the Foreign Trade Policy – 2020 – 2025.

Messe Düsseldorf has organized Welcome Reception for OPPI Members at 3.30 p.m. on 20th October 2019. The Members are requested to confirm their attendance at the Welcome Reception scheduled on 20th October 2019 by sending an email to Mr. Deepak Lawale.

OPPI Secretariat is trying to organize Visits to the Recycling Plant of UFLEX Ltd., Noida and also to the cleanliest city   in India – Indore. The circular letters will be sent by OPPI Secretariat as soon as the visits are finalized.

 

With Best Wishes.

Dharmendra Gandhi

President.