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Note ban hits petchem, polymer units

Large companies have seen 25% decline in businesses in the past three weeks, expect normalcy soon

Rajesh Bhayani  |  Mumbai 

After a sharp fall in demand due to liquidity crunch caused by the currency note ban, the petrochemicals and polymers sector is hoping for some stability. Small and medium size processors are still operating at low capacities. Big companies have seen less impact but still say they lost about a fourth of business in the past three weeks. M P Taparia, managing director, Supreme Industries, one of the largest plastic goods makers for industrial and household use, said: “By mid-December, demand could see normalcy but some measures to support small and medium enterprises ...

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First Published: Tue, November 29 2016. 01:35 IST