Chemicals and Petrochemicals Advisory Forum meeting held Potential of chemicals and petrochemicals Sector is huge- Gowda

Minister informs that Government is working on revamped PCPIR policy for supporting rapid growth through mix of right incentives

Union minister of Chemicals and Fertilizers DV Sadananda gowda  chaired 2nd Meeting of Chemicals & Petrochemicals Advisory Forum today through video conferencing.

The meeting was attended by Mansukh Mandaviya MoS and Vice Chairman of the Forum, R.K. Chaturvedi, Secretary Chemicals and petrochemicals, senior officers from Department of Chemicals & Petrochemicals, Ministry of Environment, Forest & Climate Change, and Department of Commerce, representatives of various chemical & petrochemicals industry associations .

The main agenda of the meeting of the Forum was to discuss possible ways to realize vision of  Prime Minister Narendra Modi to build “Atma Nirbhar Bharat” in context of chemicals & petrochemicals sector. The Forum provides a permanent platform to the industry to interact with Government with the objective of resolving bottlenecks, enhancing ease of doing business and facilitating investments in the sector.

During the  meeting, various associations highlighted challenges being faced by the industry, and came up with suggestions to boost domestic production and export, while reducing dependency on import.

Gowda said that the potential of chemicals & petrochemicals sector is huge. Government has taken several steps since 2014 to improve ease of doing business and today India is ranked at 63, up from 130 in 2017 as per World Bank’s report. He said that covid-19 situation has affected economies throughout the world. Industry need to take advantage of various reliefs/ incentives provided under Rs 20 lakh crore stimulus package announced by Government of India.

Gowda informed participants about the steps taken by Department of  Chemicals & Petrochemicals during last one year for supporting orderly development of the sector like making BIS standard mandatory for 19 chemicals & 5 petrochemicals, notification of Public Procurement Order mandating Government agencies to give preference to local manufacturers during procurement of 55 chemicals, decision to initiate process for getting separate HS code for high trade valued chemicals etc.

He also conveyed that Department is working on revamped PCPIR policy for supporting rapid growth of these industrial clusters through mix of right incentives. On the other hand, Industries should consider increasing their R & D expenditure and activities so that India could emerge as net exporter of technology in near future. There is need for Industries to adopt Green Chemistry also called sustainable chemistry to minimize waste formation, use of safer solvents and use of renewable feed stock to develop chemicals and petrochemicals sector into an environmentally sustainable sector.

Mansukh Mandaviya  said that development of PCPIRs is an important prerequisite to strengthen our manufacturing base and attract new investments.

Secretary Chemicals & Petrochemicals said that the suggestions & grievances of the industry has been taken note of, and the Department will work on those in coordination with other Departments of Government of India to resolve issues wherever possible.

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