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Need for Big International Investments in Indian Chemical Sector : Secretary, Chemicals & Petrochemicals
Nov 28, 2017

Chemical industry, a key manufacturing driver, is growing at 8 to 9% p.a. and has potential to grow much faster. However, there are no major investments being made in the sector by big international players, according to Mr Rajeev Kapoor, Secretary, Department of Chemicals & Petrochemicals, Ministry of Chemicals & Fertilizers. 

 

While speaking at the 4th edition of CII Chemistry Everywhere Conference today in New Delhi, Mr Kapoor said that the chemical sector although globally competitive, is constrained domestically. Still, much more can be enhanced by keeping close interaction with the user segment. One important action plan for government will be to work with the consumers and industry and then develop the products, he said.

 

The Chemistry Everywhere Conference- Energizing Make in India through the Chemical & Petrochemical Industry was organized by the Confederation of Indian Industry (CII) in partnership with Department of Chemicals & Petrochemicals,Ministry of Chemicals & Fertilizers.  

 

The Secretary emphasized on giving focused attention to few policy areas including revising the PCPIRs, as three out of the four PCPIRs are not reflecting desired results. ‘Our trade Policy also needs stability and we have already taken up that with the Ministry of Commerce’, he added.

 

‘In order to make petrochemicals a major source of sustainability, we need to work on value chains and for that we need to work with the champion industries. We also need to push for skilling the chemical aspects of the industry,’ the Secretary remarked.

 

Elaborating on the objectives of the CII Chemistry Everywhere campaign, Dr Raman Ramachandran,Chairman, CII National Committee on Chemicals said, with the mission mode set forth by Hon’ Prime Minister’s Make in India campaign, the chemical sector is truly being geared for the next phase of growth. 

 

Dr Ramachandran also presented some of the key issues, needs and roadmaps for the sector and urged the government for making those actionable in coming times. Creating an integrated Petrochemical & specialty chemicals Master Plan, investing in heavy upfront Infrastructure in Greenfield PCPIRs, setting up a technology upgradation fund for the chemicals industry and reviewing reverse duty structures, establishing India’s chemical inventory database, upgrading the Tier-2 Chemical Universities through PPP model, launching of parallel inspections, time bound clearances, pre-approved list of companies, etc are some of the key elements which were highlighted.

 

CII Compendium on Chemistry Everywhere - In Pursuit of Sustainable Development was also released during the occasion by the Secretary, Mr Rajeev Kapoor. 

 

28 November 2017

New Delhi

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