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Avantika Saraogi, Executive Director of Balrampur Chini Mills, has called for government support in the form of subsidies and import restrictions to boost the Indian bioplastics market as the company makes its foray into polylactic acid (PLA) production. Speaking to Businessline, Saraogi emphasized the significant growth potential for both the domestic bioplastics market and Balrampur Chini itself.
The company’s new venture into PLA, a bioplastic derived from renewable resources, represents a diversification strategy aimed at maximizing its value stream. Stefan Barot, President of the Chemicals Division, described the ?2,000-crore PLA project as a key move to mitigate risk and explore new business opportunities. |
