The Hindu : Andhra Pradesh / Hyderabad News : Plastic goes places

Online edition of India's National Newspaper
Saturday, Apr 28, 2007
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Plastic goes places

Special Correspondent

Supportive policies of State, a factor

HYDERABAD: The value of the potential investment in plastics industry in south India is estimated at Rs. 450 crores and the scope for setting up of new plants in the region is put at 3,500, with Andhra Pradesh alone contributing 1,300.

Organisers of the four-day Indian Plastics Exposition (IPLEX-07), which began here on Friday, put out figures to show that south India in general and Andhra Pradesh in particular offered an excellent atmosphere for industrial growth with the availability of skilled workforce.

Anil Nagda, convener of the expo, told The Hindu , that the first exhibition in the series, IPLEX-5, held in Chennai from February 25 to 28, had generated business of Rs. 50 crores.

He said the State was gradually becoming the most reliable source of plastic productsto meet the demand from all over the country.

Giant leap

The plastic industry in the State was poised to take a giant leap forward, with conducive industrial atmosphere and supportive policies. Technologically, entrepreneurs in the State were well equipped to meet any challenge.

Mr. Nagda explained that the growth of plastic industry in the State was 30 per cent, as against the national rate of 15 per cent.

This was mainly because of the four per cent VAT.Following the reduced tax parity, the consumption of polymers in the State had also increased.

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