Chandan Khanna, director, Ajanta Packaging at Interpack 2022 in Dusseldorf. Photograph PSA

Budget cuts duties on polymers for plastics industryExcise on retail plastics bags upwards from 12 to 15%The India primal government budget 2015-16 has reduced the basic customs duty on isoprene and liquefied butane from five to 2.5%, while the basic customs duty on ethylene dichloride (EDC), vinyl chloride monomer (VCM) and styrene monomer is reduced from two.5 to ii%. The basic customs duty on butyl acrylate is reduced from vii.5 to 5%. Moreover, the budget special additional duty on naphtha, EDC, VCM and styrene monomer for manufacture of excisable goods is reduced from 4 to ii%.The budget proposals are directed at reversing the inverted duty on plastic products and expected to amend competitivenessThe budget proposals are directed at reversing the inverted duty on plastic products and expected to ameliorate competitiveness. Investment and chapters addition in the downstream petrochemicals sector for plastic product manufacture tin be expected. However, the finance minister Arun Jaitley has proposed an increase in excise on plastic bags (other than those for industrial use) from 12 to 15%.

Ajanta Packaging's new label plant near Bangkok in Thailand

Every bit y'all join the states today from Bharat and elsewhere, we have a favour to enquire. Through these times of ambiguity and challenge, the packaging manufacture in India and in most parts of the world has been fortunate. We are now read in more than 90 countries equally our coverage widens and increases in impact. Our traffic as per analytics more than doubled in 2022 and many readers chose to support us financially even when advertisement savage to pieces.

Every bit we come up out of the pandemic in the next few months, we hope to once again expand our geography and evolve our high-touch reporting and administrative and technical data, with some of the all-time correspondents in the manufacture. If in that location were always a fourth dimension to support us, it is now. You can power Packaging South asia's balanced manufacture journalism and assistance to sustain united states of america past subscribing.

Subscribe Now