If you have recently bought a tetra pack of juice or chaas, you must have noticed that the plastic straws have been replaced with paper straws. Most fast-moving-consumer-goods (FMCG) companies and retailers have opted to replace plastic with paper products ever since the plastic ban was introduced from 1st Jul '22.
FMCG companies are witnessing moderate financial impact due to the country's move to ban certain single-use plastic items said experts, adding that the impact has mainly been on the livelihoods of employees of SMEs.
To intensify its efforts to combat plastic pollution, Prime Minister Narendra Modi-led government has banned the manufacture, import, stocking, sale and use of identified single-use plastic items from July.
This is a step in the right direction to curb pollution caused by littered and un managed plastic waste and supports India's environmental, social, and governance drive.
Indeed, the benefits are visible already. An average Indian now generates around 2,500 gm of plastic waste annually, which is equivalent to 125 one litre PET bottles.
While this figure is still sizable, it is half of what was five years ago. For the record, in India, the maximum quantity of plastic waste is generated in Maharashtra, followed by Tamil Nadu and Gujarat.
Maharashtra, along with other states, too introduced a brand-new plastic ban along with the rest of the country from 1st July.
Around 21 selected single-use plastic items were outlawed for their low utility and high littering potential. These include disposable cutlery, plastic sticks for candies, ice cream and balloons, plastic flags, thermocol for decoration and carry bags under 75 microns. From January 23, the minimum thickness required for plastic bags will increase to 120 microns.
The government has banned the manufacture, import, distribution and sale of single-use plastic items across the country.
Bu hikaye Beyond Market dergisinin August 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Beyond Market dergisinin August 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
PRUDENT PRACTICES
Banks worldwide navigate a complex balancing act, steering economies toward growth while safeguarding financial stability through thoughtful management of interest rates and credit risks
RETAIN ROULETTE
Inexperienced investors spin the market wheel, chasing dizzying valuations and risking a bubble burst
UNRAVELED THREADS
Bangladesh's crisis disrupts global textiles, offering India a potential opportunity, but production constraints limit its gains
PASSING THE BATON
Succession planning helps ensure uninterrupted leadership
RISKY BUSINESS?
SEBI's efforts to protect retail investors from derivatives market risks could inadvertently dampen market volumes
INFLATION-PROOF YOUR CHILD'S FUTURE
Inflation might be stealing your child's future, but children's mutual funds can be their superhero
EMBRACE UNCERTAINTY, SAYS MARKS
Howard Marks urges investors to embrace uncertainty, long-term thinking, and focus on controllables, shunning in his memo “The Folly of Certainty”
IMPORTANT JARGON
70% OF INDIVIDUAL INTRADAY TRADERS IN THE EQUITY CASH SEGMENT MAKE LOSSES, FINDS SEBI STUDY
AN ASCENT T'O NEW HEIGHTS
The IMF predicts India's economy to reach 55 trillion by 2047, driven by various economic indicators showing positive growth and government initiatives
CARRY TRADE CRASH: GLOBAL MARKETS REEL
Japan’s Policy Shift Sends Shockwaves Through Global Markets, Including India, as Yen Carry Trade Disintegrates