PET Recyclers Face Bankruptcy Risk Amidst Licensing Delays

Imagine plastic bottles being recycled to make new ones.

Companies built factories for this, but they need permission from the Food Safety and Standards Authority of India (FSSAI) to start.

The FSSAI is taking too long to give these permissions.

Because of the delay, the companies can't sell their recycled plastic, even though they spent a lot of money setting up their factories.

This could cause them to run out of money and close down, which would also affect the people who collect the plastic bottles.

The industry is waiting for the FSSAI to approve their plants to avoid financial issues.