NEW DELHI:
The Petrochemicals and Plastic Committee of the Federation of Indian Chambers of Commerce and Industry (FICCI) has written to the Ministry of Chemicals and Fertilisers seeking a hike in customs or import duty on polypropylene and polyethylene - vastly used in automobiles, packaging, agriculture, electronics and medical devices as well as in construction - from 7.5% to 12.5%.
India is short on petrochemicals. Taking into account the capacity additions announced so far, the projected deficit of polypropylene and polyethylene is likely to reach 12 million tonne per annum or $12 billion at current price levels by 2030.
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