Plastic industry

The Plastic industry is growing at a fast pace and the per capital consumption of plastics in the country has increased manifold as compared to the earlier decade. Plastic has become an inseparable part of our daily life.Constant developments in polymer technology, processing machinery and the cost effective production is fast replacing plastics in every segment from its conventional materials. The total turnover of the Plastic Industry is Rs.25, 000 crores.

Cost-Cutting Through Industrial Suppliers

If cost cutting is your target and want to achieve expansion through it, then try the following measures.

· Develop a successful joint venture with a local partner
· Localise your suppliers to minimise cost and grow production
· Find out how to best work with local suppliers
· Assess the potential for local market sales Examine the key benefits of operating in a country or state: why should you be there?

India, US Legislation To Provide Impetus For SMEs Grow Big

The small businesses are to be the major beneficiaries for business and trade facilitation worldwide, as evident from the legislation recently signed by the US President George W Bush that allows a whopping $21 billion to be available to small businesses through the US Small Business Administration’s two main loan guarantee programmes – the 7(a) loan guarantee and 504 loan. The legislation, Small Business Regulatory Enforcement Fairness (SBREF) Act, has a counterpart in India named Small Enterprise Development (SED) Bill, which is likely to be tabled in the ongoing winter session of Parliament. The proposed Bill is the joint endeavour of the CII and the ministry of SSI’s Small and Medium Enterprise mission to the US in February 2000.

The two key determining factors for the SME sector’s growth are innovation and flexibility, combined with the right global environment. This also enables small enterprises to establish their unique identity on the world stage. The role of the Indian automobile and garments sectors in the global supply chain are good examples of how Indian SMEs have seized opportunities that came their way. For the further growth and development of the Indian small industry and to increase the GDP contribution to more than 7%, the enactment of the Bill will provide desired impetus and is likely to push up the ambitious GDP growth target to 12% as envisaged in the 10th five year Plan.

The proposed (SED Bill) statutory backing to the preferential price and purchase policy for the SSI units is in line with similar provisions regulated by the office of advocacy of US Small Business Administration (US SBA) and shall give the desired teeth to the existing directive for the Indian government enterprises and public sector undertakings for making certain part of their purchases from SSI units.

Similarly, the SED Bill also provides for streamlining of issues related to the visits of inspectors, labour laws that intervene with the daily operations of a SSI unit, besides suggesting measures to check delayed payments and encourage flow of credit by banks and financial institutions.

The proposal to define the “medium” enterprises segment is also a step in the right direction in view of the existing concept of SMEs worldwide. This shall give the desired thrust to further investments (foreign and domestic) into this sector. This, in turn, shall ensure more funds for technological advancement of the capital intensive (hi-tech) sub-sectors of the small sector.

Must Visit:
http://handicrafts.tradeget.com/

Other Article by the same author
Agrilculture Industry News
Textile Industry News
AutoComponents Industry News
Chemical Industry News
Handicraft News
Industrial Supply News