| Date: |
05-02-2015 |
| Subject: |
Rebates for buyers at 9th Plastindia expo in Gandhinagar |
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AHMEDABAD: In first of its kind initiative a rebate of 5% will be offered on purchase of machinery from Gujarat based companies to the companies participating at the 9th International Plastics Exhibition and Conference (Plastindia 2015) to be held from February 5-10 at Gandhinagar.
Also, 3% rebate will be offered on purchase of machinery to companies outside the state, during the exhibition period. "Purchase of raw materials will have further subsidies on VAT and 5% subsidy on the interest on purchase of machinery. This is the first time we are offering this kind of discount or rebate to give a boost to the participants and the overall plastic industry," said Subhash Kadakia, President, Plastindia Foundation.
Gujarat constitutes 60% of the plastic machinery, raw material for plastic and processed plastic materials produced in the country.
"Currently India's per capita plastic consumption is 9.7 kg per annum which is likely to triple over next decade. Also plastic consumption in 2013-14 was 10.2 million metric tonnes (MMT) and it is likely to cross 17 MMT by 2016-17," added Kadakia.
As per PlastIndia Foundation, India exports plastics and other products worth $7.5 billion annually which is less than 1% of share in global market. Out of total exports, 35% constitutes of raw material. "India is now becoming a sourcing country for various countries in case of plastic demand," said Kadakia.
One of the largest exhibition in the country being hosted outside New Delhi for the first time will have around 1600 exhibitors from India and 30 countries. Also the footfall during the six-day exhibition is expected to be around 1.5 lakh.
Concurrent to the event, an international conference, titled, 'Gateway to Innovations,' will be held at the Convention Centre in Mahatma Mandir. Also specific country pavilions will be set up including those of UK, Austria, France, Poland, Germany, China and Taiwan.
Source : timesofindia.indiatimes.com
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