Paper / Wood / Glass/ Plastic/ Marbles
Govt push for quality: Industry embraces QCO on plywood, MDF boards after initial resistance
The plywood and MDF board industry in India has accepted mandatory quality control norms for better standards. Commerce Minister Piyush Goyal states that the initiative aims to boost domestic manufacturing and limit sub-standard imports. These measures will help India establish itself as a manufacturing powerhouse, ensuring superior and safe products for consumers.
Quality control on Polypropylene and Poly Vinyl Chloride deferred to June 2025
The Centre delays the quality control orders on Polypropylene (PP) and Poly Vinyl Chloride (PVC) materials to June 24, 2025. This amendment prohibits the import and sale of non-BIS compliant PP and PVC. These materials are widely used across various industries, with significant market growth expected in the coming years.
Paper manufacturers' revenue may dip 2-3 pc in FY25: Crisil report
Indian paper manufacturers face a 2-3% revenue dip this fiscal year. Operating margins will likely shrink to 15-16%. High wood costs and lower paper prices are to blame. Volume growth is expected to be a modest 2-4%. However, the industry's financial health remains stable. A margin recovery is anticipated next fiscal year as wood supply improves.
Saint-Gobain mirrors global mood, says India business will grow 3-fold in 10 years
Saint-Gobain, a France-headquartered sustainable construction major, targets three-fold growth in India, aiming for a turnover increase from ₹14,200 crore to nearly ₹50,000 crore by 2035. The company plans to leverage local manufacturing, diverse leadership, and extensive operations in glass, gypsum, abrasives, and construction chemicals to drive growth.
Paper industry body flags below-cost fibre paperboard imports, demands level playing field
Indian paper manufacturers are raising alarms over a surge in 'below-cost' virgin fibre paperboard imports, primarily from China and Chile. This influx has tripled imports in the first half of 2024-25, threatening domestic producers' profitability and planned Rs 20,000 crore investments in a market projected to reach Rs 25,000 crore by 2030.
PAG to acquire Advent-owned Manjushree Technopack
Asia-focused private equity fund PAG is set to acquire Manjushree Technopack Ltd., India's largest rigid plastic packaging company, for $1 billion. The deal will see US-based Advent International exit its investment in Manjushree, opting for a sale instead of its initial plan to list the company on the stock market.
Paper and paperboard imports rise by 3.5 pc in April-September FY25
India's paper and paperboard imports increased by 3.5% in the first half of the 2024-25 fiscal year, driven by a 44% surge in imports from China. The Indian Paper Manufacturers Association (IPMA) raised concerns about the impact of rising imports on the domestic industry, which is facing low capacity utilization and financial strain.
'India could be Aliaxis' largest market by 2030'
Aliaxis SA, a Belgian pipe and fittings manufacturer, sees India becoming its largest market by 2030. Driven by India's 15% annual growth rate, Aliaxis plans to invest over ₹1,800 crore in three new manufacturing facilities. The company aims to increase its market share in North India and projects India's revenue contribution to reach €1 billion within five years.
Welspun Corp's subsidiary Sintex-BAPL acquires 100% stake in Weetek Plastics for Rs 85 crores
Welspun Corp Limited, via its subsidiary Sintex-BAPL Limited, acquires Weetek Plastics Private Limited for Rs 85 crores. Weetek becomes a wholly owned step-down subsidiary, enhancing Welspun's plastic manufacturing capabilities in India. The acquisition supports Welspun's plans to expand with new plastic pipe manufacturing plants.
Borosil Group expects to cross Rs 7,000-cr revenue in 4 years
Borosil aims to double its revenue to Rs 7,000 crore in four years, driven by growth in sectors like glassware, laboratory equipment, and solar glass. A new plant in Gujarat and investments in Jaipur, alongside plans for steel bottle production, will support this. Borosil Renewables expects growth despite competition from Chinese firms.
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Uttar Pradesh bioplastic policy gamechanger, to finalise Rs 20,00 cr PLA project post scheme fine print: BCML
Balrampur Chini Mills Limited plans to finalise an investment of Rs 2,000 crore for India's first industrial PLA bioplastic manufacturing plant. This decision awaits the release of policy details by the UP government. The plant, expected to be operational by 2026, will produce sustainable bioplastics from biomass, supporting the state's goal of achieving net zero emissions by 2070.
IPF sees Rs 3,000 crore capex in Bengal, plans new poly parks and sector skill centre
The Indian Plastics Federation (IPF) plans two new poly parks in West Bengal to meet rising demand, alongside launching a sector skill centre at Sankrail, pending NSDC approval. The initiative, with Rs 3,000 crore capex, aims to generate 2 lakh jobs and contribute significantly to the state's GDP.
Tupperware: From a US household brand to an indebted kitchenware maker
Tupperware Brands has filed for bankruptcy protection after years of declining demand and financial losses. The company, known for its iconic food storage containers, struggled with competition and rising costs. Despite a brief resurgence during the pandemic, Tupperware could not sustain profitability and now seeks to restructure under bankruptcy proceedings.
India should come up with bio-plastics policy: Report
India should introduce a national bio-plastics policy with fiscal incentives like capital subsidies and government support for research and development, according to a report by EY and ASSOCHAM. The report suggests measures such as regulatory frameworks, import restrictions, and rationalised GST rates to boost the bio-plastics industry in India.
Govt mandates use of fire-resistant upholstery fabrics in non-domestic furniture
The government has enforced new regulations requiring fire-resistant upholstery fabrics in non-domestic furniture to enhance public safety. Effective from October, the Quality Control Order mandates compliance with Bureau of Indian Standards norms for all upholstery in public spaces. This includes offices, malls, airports, and more, with a relaxation on imports until March 31, 2025.
Corning bullish on mobile, life science biz growth; commits Rs 1,500 crore investment
Corning is optimistic about growth in India's mobile consumer electronics and life sciences sectors. The company plans to invest over Rs 1,000 crore in a joint venture with Optiemus Infracom in Tamil Nadu and Rs 500 crore in a borosilicate glass unit in Hyderabad, creating numerous jobs.
