Plastics constitute a very important segment of Indian economy and are a facilitator of a large number of industries. The sector has been growing at a very good pace at above 10% for the past many years and is also highly employment intensive. With a turnover of above Rs.10, 0000 crores and employing above 3.4 million persons. It is making very good contribution to the national economy.
Infrastructure is a key driver for the Indian economy. This segment is highly responsible for pushing India's overall development and enjoys focus from government for policies, ensuring timely creation of world class infrastructure. The Government of India is taking every possible initiative to boost the infrastructure sector. As per the 12th Five Year Plan, India had committed USD 1 trillion in upgrading its ageing infrastructure like Power, Telecom, Roads, Irrigation, Railways, Oil& Gas and others. The Reserve Bank of India (RBI) has notified 100% foreign direct investment (FDI) under automatic route in the construction development sector. The new limit came into effect in December 2014. The Government of India has relaxed rules for FDI in the construction sector by reducing minimum built-up area as well as capital requirement. It has also liberalised the exit norms. In fact, the Cabinet has also approved the proposal to amend the FDI policy. This all opens many windows of opportunities for Indian Plastic Sector.
About the Event
FICCI jointly with Department of C&PC, Govt. of India & Organization of Plastics Processors of India is organizing 3rd National Conference on Plastic Processing with focus to “Sustainable Infrastructure” on February 23, 2017 at Federation House, New Delhi