The Government of India is likely to release a draft national chemical policy in October, Indrajit Pal, Secretary, Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilisers, has said.
Speaking at an event in Mumbai, Mr. Pal said the draft policy is still under formulation and is expected to be ready by next month, when it will be released for public discussion.
The draft policy would focus on sustainable growth of the Indian chemical industry, and would also cover dyes, organic and inorganic chemicals.
At the event, Mr. Pal released a Confederation of Indian Industry (CII) report on the chemicals sector, which says that the availability of raw materials and competitive pricing are the main hindrances to the growth of the chemicals sector.
The report said that in the absence of competitive pricing, investments will move away from India, which will have to then depend more on imports.
Source:
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