New Delhi, Feb 21 (PTI) The Indian Polyurethane Association (IPUA) wants the government to take steps to promote domestic industry and address issues such as inverted duty structures.
The association, which will host the 5th PU Tech exhibition next month with an aim to promote polyurethane, also wants the government to impose only a 'reasonable' duty on the sector under the new GST regime.
"At the moment, the domestic industry faces inverse rate of duty because of which local companies face pressure," IPUA President Mukesh Bhuta told PTI.
Seeking government support, Bhuta, who is also the Chairman and MD of Expanded Polymer Systems, said steps must be taken to create more research centres and provide more grants to the polyurethane industry.
On the much-awaited GST, he said IPUA would request the government "to be reasonable on the duty imposed in the new GST regime".
Polyurethane is used in the manufacturing of foam seating, durable elastomeric wheels and tires such as roller coaster, escalator, elevator and carpet underlay, among others.
Commenting on the impact of demonetisation, he said it "disrupted the industry growth as sale of refrigerators, shoes and automotives went down in which the raw materials of polyurethane are used".
The association is organising the 5th PU Tech exhibition from March 8 to March 10 to create more awareness about the polyurethane. It will be held at India Expo Centre, Greater Noida.
The three-day exhibition would feature over 250 exhibitors that will bring together raw material producers, equipment suppliers, end users and industry at large.
The Indian Polyurethane Association is a non-profit organisation created to promote growth of the polyurethane industry in India.
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI