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Plastic Company Registration in India

The polymer and plastics sector of India is blessed to thrive luxuriantly in coming years and decades, supported by growth in domestic consumption and exports to countries worldwide. These scenarios are elucidated under section just below, separately. This article informs our legal and supportive services for a plastic company registration in india, and also for smooth establishment and profitability of its business.

Plastic Company Registration in India

Depending upon one's activities, resources, and priorities in the plastics industry of India, an entrepreneur can set up a suitable type of company or enterprise with expert and innovative support of our company lawyers and intellectual property lawyers. For doing business or manufacturing in the plastic industry, the most suitable types of entities could be a SME (small to medium-sized enterprise), a private limited company, or a public limited company. Our Delhi-based law firm is very popular and trustworthy for its well-rounded legal support to businesses and services in all Indian economic sectors, including registration and protection of their intellectual property rights. Our prompt and perfect online company registration services are IPR services (particularly trademark registration) are rather famous in entire India.

Thus, in addition to company incorporation, an entrepreneur desirous of engagement in the plastics sector of India may also register his logo, trademark, industrial design, or patent with support of our veteran and innovative intellectual property lawyers of international fame. Broadly, the logos, brand names or trademarks associated with plastics and plastic goods & products are to be registered under the following one or more trademark classes of the Nice classification

  • Trademark Class 1
  • Trademark Class 17
  • Trademark Class 16
  • and Trademark Class 20.

Plastic Industry in India and Scope of Work (SOW)

The Industry of Plastics in India worth around Rs 1.2 Lakh Crore at present, is a very significant and fast-progressing economic sector, in respect of catering to ever-growing domestic requirements, earnings from exports, employment generation, and its support to growth in various other economic sectors. At present, India is a rather prominent exporter of plastic products to over 200 countries worldwide, along with being one among the top five consumers of these in the world. This section gives very useful and sumptuous information about the plastic industry in india and its capabilities and growth prospects in near future.

The plastics industry of india, consisting mainly of the Small and Medium-Sized Enterprises (SMEs), has immense potential both for growth and profitability in next few decades, boosted mainly by regularly growing domestic demands, easy & cheap availability of necessary raw materials & machineries, and promising prospects of its exports of plastic products to countries worldwide. According to industry sources and experts, the Indian plastics industry is most likely to grow further with an annual growth rate of 8-10%, to make its share in the global export market to about 3% by the year 2025, supported by its domestic consumption being nearly doubled by then. At present, India has just around 1% share in the global export market of plastic products (around US$850 billion), and its domestic consumption of about 15 MMTPA. The domestic consumption is to be increased by ever-growing uses of plastics in the sectors of construction, agriculture, automotive, packaging, water management, electronics & telecommunications, information technology, power transmissions, healthcare, defense, aerospace, etc., and regularly growing household requirements. It must be noted that the per capita plastic consumption in India is quite low at present, just around 12 Kg as compared to the global average of 40 Kg; this figure in US is 90-100 Kg in USA, 50 Kg in Europe, etc. Hence in near future, the domestic consumption of plastics in India is bound to increase with a high growth rate nearing 15% per year (and reach the level of 20 MMTPA by 2020), as against 10% in China and 2.5% in UK.

India's plastics industry is fully capable of thriving fast and achieving above-noted objectives through capacity expansions, technology upgrades, Governmental supports & fillips, and constantly growing domestic demands and exports. Both plastic raw materials and finished plastic products are exported from India, covering a rather wide range of these. In financial year 2015-16, the total export of plastics from India stood at about US$ 7.5 billion, and is very hopefully expected to touch the level of US$ 15 billion in next five years. The bulk fraction of these exports was value-added plastics. India has at present over 30,000 plastic processing units (a large fraction of these being located in Gujarat), and this plastic industry of India employed around 10 million people, directly and indirectly. PLEXCONCIL (The Plastics Export Promotion Council) is the supreme Governmental body in India, exclusively responsible for growth and promotion of exports of plastics from India. The Government of India in collaboration with bodies like PLEXCONCIL, is to establish 10 new plastic parks adorned with lavish facilitation centers, to make the latest technologies and international customers easily accessible to plastic manufacturers and exporters of India. Some of the hugely famous plastics companies of india are the following at present

  1. Finolex Industries Ltd.;
  2. Plastiblends India Limited;
  3. AGA Group International;
  4. Corporate Resource Group;
  5. ACRY Plus;
  6. Kay Kay Global Suppliers; etc.

The fast-paced Indian industry of plastics is affluently supported by easy and cheaper availability of requisite raw materials (including polypropylene, both high and low-density polyethylene, PVC, etc.); domestic polymer producers and manufacturers of plastic processing machineries and moulds, and qualified and skilled manpower; advancements in plastic technologies; and necessary manufacturing infrastructure, etc. The main plastics processing technologies used in India at present are the injection moulding, extrusion, and blow moulding.

How to Register a Plastic Company in India?

Depending upon one's specific manufacturing activities or processes in the plastics sector of India, an entrepreneur may set up a Small to Medium Enterprise (SME), a private limited company, or a public limited company, all of these companies are readily and expertly registrable through efficient services of our veteran company lawyers. Apart from company formation, our other services for business establishment and growth are stipulated under this section.

In the manufacturing sector (in contrast to the services sector), a small enterprise is one which has invested more than Rs 25 Lac but less than Rs 5 Crore in its manufacturing plant and machinery. And, this investment threshold has been kept as between Rs 5 Crore and 10 Crore, for a medium enterprise. For registration of a small or medium-scale enterprise, relevant is the concerned District Industries Centre (DIC) or the State Directorate of Industries. Our well-informed and well-seasoned company lawyers deliver all necessary services for such a registration, till getting the provisional registration certificate (PRC) which is generally valid for five years.

And, the registration procedure for a private limited company or a public limited company involves the following tasks; our other legal and supportive services for smooth and profitable running and growth of such a company/enterprise in the plastics sector of India, are also listed:

  1. Getting DSCs and DINs for the Directors [Form DIR-3]
  2. Getting approval to and reservation of desired company name [Form INC-1]
  3. Preparation of requisite MOA & AOA, Consent Letters, Affidavits, Powers of Attorneys, etc.
  4. Filing the application for company registration [through Form INC-7]
  5. Submission of other demanded forms and documents to the concerned ROC
  6. Obtaining PAN, TAN, GSTIN, Bank Account, Export-Import Code (IEC), etc., for the plastics company
  7. Acquiring necessary permissions and licenses from the concerned Governmental authorities
  8. Establishing manufacturing infrastructure
  9. Comprehensive services for the brand name and logo registration, patent registration, or design registration on behalf of the plastics entity.
  10. Drafting meticulously various contracts or agreements related with manufacturing processes, commercial dealings & transactions, various core activities of the plastics company, leasing/hiring of equipment and machinery, financing, franchising, distribution and marketing of finished products, etc., of the company
  11. All mandatory annual and periodic compliances by the plastics company with ROC and other regulatory authorities
  12. Innovative strategies for business growth and greater profitability.
  13. Activities and compliances concerned with various other legal Acts and Statutes, such as Labor and Employment Laws, Intellectual Property Laws, Commercial Laws, ESI and PF Regulations, Environmental Laws, International Business, etc.

How to Contact for Plastic Company Registration in India?

Interested entrepreneurs may readily avail our expert and cost-effective legal and advisory services for registering the desired types of plastics companies in India, and also for making their businesses smooth and progressive, just through ringing at: +91-88001-00284; or sending their queries or requests to: contact@Company-Registration.in

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