Composites industry urges govt support to compete globally - ACE Update Magazine

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Composites industry urges govt support to compete globally

Composites industry urges govt support to compete globally

Rs. 5,000-crore Indian composites industry, also known as reinforced plastics industry, expects immediate interventions in form of special grants, incentives and sops from the government.

“Composites market in India is not fully tapped and offers tremendous growth opportunities for composites manufacturing in the coming years. This makes an apt case for ‘Make in India’. The current rate of growth in the composites industry is a meagre 6 per cent in spite of huge untapped potential. In order to build on the underlying opportunities, we urge the government’s unwavering support and interventions by way of incentives,” urged Prof S C Lakkad, Chairman, FRP Institute while delivering his speech during International Conference and Exhibition on Reinforced Plastics (ICERP 2017), held in Mumbai recently. Defence Minister Manohar Parrikar inaugurated the event.

“The Indian composites industry is fully capable of supplying 100 per cent of requirements of the defence sector, if given due support. Composite materials are emerging as an innovative alternative for steel and aluminium and hence, can be used in defence equipment manufacturing,” a statement issued by the organisers said.

Key members of the composites industry put forth their wish-list at the event.

Prof Lakkad also cited the need for increased awareness and visibility for composites, investment in technology and manufacturing of composites.

He adds, “The industry is continually evolving with development of newer materials, technology, applications and processing. While the conventional composites continue to find newer applications, the high tech composites like the carbon fibre based composites are finding greater interest in terms of their applications in defence, aerospace, and other applications to keep pace with the global trends.”

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