|
|
Article: Indian plastics firms weathering global crisis.(News)
- Article from:
- Plastics News
- Article date:
- February 16, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Gurdip Singh
Indian plastics manufacturers are cautiously optimistic, with some having escaped the impact of global financial meltdown so far, while others have cut production by about 40-50 percent since October.
The consumer-driven Indian economy, projected to grow just 5-7 percent this year from a recent annual high of 9 percent, has saved many of the local plastics producers. The country's plastics industry sectors posted growth rates ranging anywhere from 6-20 percent in 2008.
"But we believe we may get hit by the economic recession in the future, warned Sunil Jain, president of Veraval, India-based Rajoo Engineers Ltd., a maker of ...