Chemical industry should brainstorm to reduce India's dependency on imports: Mandaviya
This growth momentum is likely to prevail in the coming years, Mandaviya said.However, the industry should brainstorm on reducing the countrys dependence on imports, although the government is making efforts to make the country Aatmanirbhar self-reliant in this sector, he said.The Indian chemicals industry should think how to reduce import dependency.
Union Fertiliser and Chemicals Minister Mansukh Mandaviya on Friday asked the chemical industry to brainstorm ways to reduce the country's dependence on imports besides asking them to focus on R&D amid challenges of climate change and environment concerns. Addressing a virtual award function of the Indian Chemical Council (ICC), Mandaviya said the chemical and petrochemicals industry is the base of the Indian economy. Other sectors' growth depends on this as more than 80,000 commercial products are directly and indirectly impacted.
''The growth rate of this sector has been higher than the country's GDP. This growth momentum is likely to prevail in the coming years,'' Mandaviya said.
However, the industry should brainstorm on reducing the country's dependence on imports, although the government is making efforts to make the country 'Aatmanirbhar' (self-reliant) in this sector, he said.
''The Indian chemicals industry should think how to reduce import dependency. Everyone should brainstorm,'' he said and suggested the industry to work with academic research bodies in this regard. To make the country self-reliant in this sector, the minister said the government has announced several schemes including the production-linked incentive (PLI) to promote investment in the sector and create new jobs.
Taking advantage of these schemes, he said the chemical industry should work keeping in mind the motto of self-reliance. That apart, the chemicals industry should do research and development (R&D) keeping in mind climate change and environment concerns, the minister said and added that ICC has taken initiatives such as ''Responsible Care' and 'Nicer Globe' to ensure better environment. Assuring full support to the industry, the minister said adopting a cluster approach will help cost of production and the industry will become more competitive. He further said the Central Institute of Petrochemicals Engineering and Technology (CIPET) has become sustainable in the last 6-7 years as it has started offering research service to the industry besides training the manpower.
The minister also lauded chemicals industry's contribution during the pandemic as it manufactured products like sanitisers to ensure safety of the people. Speaking on the occasion, Additional Secretary in the Fertiliser and Chemicals Ministry Samir Kumar Biswas said the government for the first time has come out with mandatory quality standards for certain products.
He said there is an immense growth potential in the sector and the government's new schemes gives opportunity to achieve this. International Council of Chemical Association (ICCA) President and Chairman of the Board of Executive Directors of BASF-SE Martin Brudermuller was also present at the event.
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