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The Modi Government at the Centre is expected to come out with a new national chemicals policy soon that is aimed at giving a boost to the chemicals sector and reduce exports.
Indrajit Pal, Secretary to Department of Chemicals and Petrochemicals, said the draft policy had been prepared and there had been extensive discussions with all stakeholders.
“The policy was delayed due to the elections. The (new) Government is now expected to bring it out shortly,” he told media persons on the sidelines of an industry meet on India Chem 2014 here today.
The policy focuses on sustainable growth of the sector, covering pesticides, organic chemicals, inorganic chemicals and dyes.
Pal said during 2012-13, India’s production of all chemicals grew to $140 billion from $110 billion two years ago (figures for 2013-14 are yet to be released). While exports were Rs 1,78,000 crore, the sector saw imports worth Rs 2,34,000 crore, he said, adding that this trade imbalance should be bridged.
The policy will also come out with India’s first national chemicals inventory. “Work on this has started. It will include data on production, consumption, import and exports,” he said.
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