From the Presidents Desk
Dear Members,
Greetings from Organization of Plastics Processors of India!
I have taken over the Presidentship of the Organization of Plastics Processors of India (OPPI). As informed to you, my predecessors have been the stalwarts of the Indian Plastics Processing Industry. Each one of them has contributed for the development of the Indian Plastics Processing Industry and OPPI. I will make every effort to continue their legacy.
I propose to take a delegation of OPPI members to the middle-east countries to consider and explore the feasibility of setting up there downstream Plastics Processing Plants. The basic objective is to take advantage of the low fuel cost, nearness to sources of plastic polymers, almost no transportation cost and negligible taxation. OPPI secretariat will circulate the details to you when all details are finalised.
We will also submit a memorandum to the Department of Chemicals and Petrochemicals, Government of India requesting for establishment of Plastic Park in Rajasthan which is one of the best destinations for setting up plastic processing units because of nearness to polymer producers, Ports, Delhi – Mumbai Corridor, etc.
OPPI will be organizing a visit to PlastIndia International University, Vapi. University of Massachusetts Lowell is partnering with PIU to prepare 21st century workforce. PlastIndia International University (PIU) is India’s first institution dedicated to plastics and sustainability, established under the aegis of PlastIndia Foundation. The details of the visit will be circulated by OPPI Secretariat.
As you are aware there are very large imports of even ordinary plastic for the development of the Indian Plastics Processing Industry and OPPI. I products from China at rates lower than our own cost of production for those items. We have been requesting Ministry of Finance, Ministry of Commerce and Department of Chemicals and Petrochemicals to increase the custom duties on plastic goods from 10% to 20%. We will take up this issue more vigorously with all concerned ministries at highest levels to ensure protection of Indian Plastic Processors.
I will be happy to receive suggestions from you pertaining to the programs to be organized for the development of the plastics industry.
With Best Wishes,
Pradeep Rathod
President
Dear Members,
Greetings from Organization of Plastics Processors of India!
The festival time is just around the corner. I wish you and your families a very happy, prosperous and peaceful Dussehra and Diwali.
The plastics processing industry is growing rapidly in spite of several challenges – market fluctuations, raw material shortages, evolving regulatory standards and lack of skilled manpower. With this objective in mind the Government of India and Maharashtra Government have established dedicated departments and institutions to give fillip to the skilling of manpower.
In order to overcome the lack of skilled manpower PlastIndia International University (PIU) commenced its operations at Vapi on 5th September 2024. PlastIndia International University is offering B. Tech. in Plastics and Polymer Engineering. The admissions for the academic year 2024 – 2025 are in progress. You may visit their website. University of Massachusetts Lowell partners with PIU to prepare 21st century workforce. The university was established on 9th May 2016 vide Gujarat Private Universities (Amendment) Act, 2016. PlastIndia International University (PIU) is India’s first institution dedicated to plastics and sustainability, established under the aegis of PlastIndia Foundation. The mission of PIU is to train professionals who can lead sustainable initiatives in the plastics industry. PIU offers specialized courses and continuing education programs to align with industry needs.
This year the entire country received good rainfall giving hope for bumper agriculture production. This will enhance the demand for agriculture pipes, micro irrigation, agriculture films, etc.
We are working on several programs for members. OPPI Secretariat will inform you about the same.
With Best Wishes,
Dilip Parekh
President
Dear Members,
Greetings from Organization of Plastics Processors of India!
On 9th August 2024, 40th Annual Meet of OPPI was held at Jio World Convention Centre. I was looking forward to meet large number of our Members at the event. However, many of you could not reach the venue in view of extremely heavy traffic in BKC.
A detailed report and photographs of the 40th Annual Meet held on 9th August 2024 are given in this Issue of PLASTISCOPE.
On 16th August 2024, India eased cross-border share swaps, allowing issue or transfer of equity instruments of a local company in exchange for those of a foreign arm in a significant rejig of foreign investment norms. Investments by an overseas citizen of India (OCI) on a non-repatriation basis would not be counted as indirect foreign investment, as per the changes, which were announced.
The amendments in the Foreign Exchange Management (Non – debt Instruments) Rules follow the budget pledge by Finance Minister Mrs. Nirmala Sitharaman to simplify overseas investment rules.
The latest changes have aligned the provisions governing downstream investments by overseas citizens of India with those for non-residents. These experts said, would encourage greater participation of NRIs in the country’s economy. Easier share swap rules will “facilitate global expansion of Indian companies through mergers, acquisitions and other strategic initiatives”, the Finance Ministry said.
In view of the above I appeal to all Members to think beyond the shores of India and establish Plastics Processing Units in countries where there is a big demand for value added Plastics Products.
With Best Wishes,
Dilip Parekh
President
Dear Members,
Greetings from Organization of Plastics Processors of India!
The Finance Minister has announced the Union Budget 2024 – 2025 proposals on 23rd July 2024.
The only proposal in the Union Budget 2024 – 2025 pertaining to Petrochemicals is as given below:
Quote
“The tariff rate of CTH 3920 and 3921 has been increased to 25%. Consequently, from 24.07.2024, PVC Flex Films / Flex Banners will attract 20% by virtue of declaration under Provisional Collection of Taxes Act 2023. However, Notification No. 50/2017 – Customs has been amended to maintain the exiting rate 10% / 15% on items other than PVC Flex Films / Flex Banners.”
Unquote
The Key Features of Union Budget 2024 – 2025 were sent to you on WhatsApp on 23rd July 2024.
As you are aware Mr. Sasha Mirchandani, Managing Director and Founder of Kae Capital and Co-Founder of Mumbai Angels has kindly consented to be the Chief Guest at our 40th Annual Meet scheduled on Friday, 9th August 2024 at 6:30 p.m. at Suite 204 A+B, Jio World Convention Centre, BKC, Mumbai.
Mr. Sasha Mirchandani will deliver a talk on “The Ecosystem of Start-ups in India.”
The young entrepreneurs will find the talk inspirational and motivational. I strongly recommend the youngsters above 16 years of age in your family should be encouraged to attend the OPPI Annual Meet. They will find the talk highly useful in planning their future career.
The Invitation Card is for one nominee of the Company. The participation fees will be Rs. 2000 + GST @18% per additional person.
I look forward to interact with you at OPPI Annual Meet.
With Best Wishes,
Dilip Parekh
President