The government is working on revamping PCPIR policy for rapid growth through a mix of right incentives said Union minister of Chemicals and Fertilisers DV Sadananda Gowda at 2nd Meeting of Chemicals & Petrochemicals Advisory Forum. 

 

DV Sadananda Gowda conveyed that the department is working on revamped PCPIR policy for supporting rapid growth of industrial clusters through a mix of right incentives. On the other hand, Industries should consider increasing R&D expenditure and activities so that India could emerge as a net exporter of technology in near future. 

 

"There is a need for Industries to adopt green chemistry also called sustainable chemistry to minimize waste formation, use of safer solvents and use of renewable feedstock to develop chemicals and petrochemicals sector into an environmentally sustainable sector," added Gowda.  

 

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

 

Gowda said that the potential of the chemicals & petrochemicals sector is huge and the industry needs to take advantage of various reliefs/incentives provided under the Rs. 20 lakh crore stimulus package announced by the Government of India. 

 

Gowda informed participants about the steps taken by the department 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. 

 

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

 

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.