Business

Plastics industry seeks export schemes, tax benefits for MSMEs

Fair deal: The industry also sought creation of world-class infrastructure for MSMEs under the PPP model. T. Singaravelou

Fair deal: The industry also sought creation of world-class infrastructure for MSMEs under the PPP model. T. Singaravelou  

Sector wants 25% of land in industrial corridors allotted to small firms at discount

Plastic manufacturers, who are finding the going tough amid environmental challenges have called for export promotion schemes for Micro, Small, Medium Enterprises (MSMEs) in the sector and removal of anti-dumping duty on machines not made in India.

At a recent meeting with officials, they sought allocation of 25% of the land available at all industrial corridors for MSMEs at discounted rates.

The industry also sought world-class infrastructure for MSMEs under the Public Private Partnership model comprising physical infrastructure, knowledge infrastructure, incubation centres, e-platforms, B2B access and technology and innovation support for MSME.

Additionally, it appealed to the government to make lending to MSMEs more convenient. “There is a need to provide capital adequacy norms support through recognition of MSME credit ratings programme for plastic processing sector; rationalise interest rate and margin requirements for MSME who adopt credit rating programme,” Meela Jayadev, president, All India Plastics Manufacturers' Association (AIPMA), said in a statement.

Help desk sought

“There is a need for the establishment of a helpdesk for MSMEs at banks, and the current limits under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme needs to increase to ₹4 crore,” the statement added.

It also demanded direct tax exemption on export income and income generated directly or indirectly from indigenisation as well as import substitution exemption for a period of five years.

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Printable version | Feb 18, 2020 1:02:08 PM | https://www.thehindu.com/business/plastics-industry-seeks-export-schemes-tax-benefits-for-msmes/article29103346.ece

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