India offers huge investment opportunities in plastics

01 February 2012 06:12  [Source: ICIS news]

NEW DELHI (ICIS)--There are huge opportunities for new investments in India's plastics industry, as recently introduced government policies provide strong support to the industry, an official from India's Ministry of Chemicals and Fertilisers said on Wednesday.

Recently introduced government policies provide tax-free zones to promote investments, and public-private partnerships, said K Jose Cyriac, secretary of India's Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilisers.

He was speaking at the inauguration of India’s largest plastics event, the 8th International Plastics Exhibition and Conference or PlastIndia, which takes place every three years. The six-day event is being held on 1-6 February in New Delhi this year.

India's government has set up research and development centres to foster innovation, Cyriac said.

Besides innovation, the government policies also aim to bring eco-friendly technology and processes to the plastics processing industry, he added.

"The plastics industry has to take proactive measures to promote waste management,” Cyriac said.

Additional reporting by Chow Bee Lin

By: Prema Viswanathan
+65 6780 4359

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