Constantia Parikh eyes India

Patent expiry increases demand

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Pavan Parikh, director of Parikh Packaging

Budget cuts duties on polymers for plastics industryExcise on retail plastics bags up from 12% to 15%The India central government budget 2015-16 has reduced the basic customs duty on isoprene and liquefied butane from 5% to 2.5%, while the basic customs duty on ethylene dichloride (EDC), vinyl chloride monomer (VCM) and styrene monomer is reduced from 2.5% to 2%. The basic customs duty on butyl acrylate is reduced from 7.5% 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 2%.
Excise on retail plastics bags up from 12% to 15%The budget proposals are directed at reversing the inverted duty on
plastic products and are expected to improve competitiveness. Investment
and capacity addition in the downstream petrochemicals sector for
plastic product manufacture can 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%.