Ample scope for Oman-India joint ventures in plastics, says official

12/01/2016 07:53 AST

There is good potential for further cooperation and establishment of joint ventures between India and Oman in the plastics industry, says an Indian official.

There are many Indians working at Omani plastics companies as skilled workers and top managers and there is good scope for establishing joint ventures between the two countries, Deepak Lawale, secretary general of the Organisation of Plastics Processors of India (OPPI), told 'Times of Oman'.

He made the comments at Oman Plast 2016, the third international plastics, rubber, chemicals, printing and packaging industry exhibition in Oman, which was held at the Oman International Exhibition Centre in Muscat from January 5 to 7.

The event showcased the latest technology and machineries used in the manufacturing of plastics, rubber, packaging and petrochemicals.

Indian participation
Lawale said that OPPI decided to bring a number of Indian companies to the exhibition in Muscat as part of its efforts to help increase the exports of Indian companies and also help them set up joint ventures with Omani firms.

About seven Indian companies participated in Oman Plast 2016 and hopefully the number will double in the next edition of the exhibition, he added. "We are helping Oman to also have very close cooperation with (different parties in) the Indian plastic industry," Lawale stated, adding that thankfully there are no obstacles in the way of trade between India and the Sultanate.

Make in India
The secretary general of OPPI also encouraged Omani investors to make investments and set up manufacturing units in India as the country is promoting its 'Make in India' campaign. "This Make in India is not only for the development of the industry in India but to make even companies from other countries big by making India the production hub for the entire world," Lawale explained.

According to the information provided by OPPI, the driving factors behind India's plastics industry includes growing consumption, booming middle class and significant global interest in the Indian economy.

In addition, end-use industries such as construction, packaging, automotive and agriculture are driving polymer usage growth.

Times of Oman