In 2023, the Department of Chemicals and Petrochemicals (DCPC) implemented the New Scheme of Petrochemicals with sub-schemes for setting up of Centres of Excellence; Petrochemicals Research & Innovation Commendation Scheme; and setting up of Plastic Parks.

Under the scheme of setting up Plastic Parks, the Department promotes setting up of need-based Plastic Parks with requisite state-of-the-art infrastructure and enabling common facilities. The objective is to consolidate and synergize the capacities of downstream plastic processing industry to help increase investment, production, and export in the sector as well as generate employment.

With regard to Centres of Excellence (CoEs), the objective is to provide grant-in-aid to educational and research institutions to improve existing technology and promote development of new applications of polymers and plastics. The emphasis of the scheme is on modernization and upgradation of existing manufacturing processes as well as improving the quality of products. 13 CoEs have been approved so far.

Under the Petrochemicals Research & Innovation Commendation (PRIC) Scheme, the Government felicitates meritorious innovations and inventions in the field of petrochemicals, products, processes and other related areas. The Scheme seeks to improve research and development in the petrochemical sector, leading to more efficient energy consumption, plastic waste management, and development of new products.

In 2023, the Department of Chemical and Petrochemical has given special emphasis to reduce reliance on imports, enhance infrastructure, and improve the business environment.

The Chemical and Petrochemical Industry holds a pivotal position in our economy serving as a backbone for numerous sectors. The Department of Chemical and Petrochemical has commendably taken steps to reduce our reliance on imports, enhance infrastructure, and improve the business environment, a strong focus on chemical sustainability into this narrative of growth.