PRESIDENTS DESK

 

From the President’s Desk

 

Dear Members,

 

The Inter Governmental Panel on Climate Change (IPCC) stated that Climate Change has become widespread, rapid and is intensifying. The Global body warned that for India such a level of Global warming should mean more heat waves and higher monsoon rainfall.


It is high time that the Plastic Industry seriously undertakes measures to reduce Greenhouse Gas Emissions by undertaking several path-breaking initiatives like switching over to all Electric Processing Machines, reduce the use of fossil fuels, switch over to bio-fuel, generation of solar and wind energy, smart energy efficient factory premises etc.


The Clean Mobility and Electric Power Driven machines will define the next decade. Everyone of us in the Plastic Industry needs to give serious thought to the aforesaid points.


The following announcements and actions taken by the Government of India should help our Industry to develop at an accelerated pace :-

  • Hon’ble Prime Minister Shri Narendra ModiJi has stated that –“Our Government is willing to take big risks in National Interest. Our Government is able to undertake difficult reforms because for us, reforms are a matter of conviction not compulsion.
     
  • Scrapping of Retro Tax will Strengthen Trust Between Government, Industry.
     
  • Revenue Secretary Mr. Tarun Bajaj stated –“Raising the rates of taxes to increase the tax-GDP ratio may not be the answer. This is now the Government policy to give a stable and predictable tax regime”.
     
  • India will fast-track free trade agreements (FTA) with at least half a dozen nations, including the UAE, UK, Australia, Canada and the UE, over the next few months, in line with its revamped foreign trade strategy, Commerce Secretary Mr. BVR Subrahmanyam said.
     
  • Mr. BVR Subrahmanyam, Secretary, Department of Commerce, Ministry of Commerce and Industry stated that –“Export demand feeds back into production & will drive our economic growth along with a roadmap on how to hit $1 trillion in the merchandising export & $700 billion in services by 2027-28”.
     

I appeal to all my colleagues in the Plastics Fraternity to take advantage of the current business Environment and boost the export of Plastics Products.

With Best Wishes,
 

Mahendra Sanghvi
President