Published on May 3, 2017
Government has been positive to implement GST from 1st July. Manufacturers are aware that offering of marine grade plywood definitely will help them to fight competition with brands after GST.
Market players have said that GST will open new era for those plywood makers who are working as organized manufacturers. Reputed mid segment plywood producers looking for better order flow in marine ply grade future to increase supply of genuine ply grade. Which they expect will help them in market after GST.
Recently every industry players are planning to take the advantage of new taxation system and thus preparing themselves. Organized players are going to increase the production capacity by adding factories as they are looking for better future, while wood panel industry majorly driven by informal sector having 75% market share and they are also working on new product categories, innovation, branding and marketing.
Market analyst have said that implementation of GST have created huge awareness and eagerness among players if all the players will work in organized way with value added offering future growth prospects of the industry will be effective.