Union Minister Mansukh Mandaviya on Wednesday directed to constitute a Joint Task Force to identify such raw materials or intermediates which are imported in high values and the country has the potential to produce these chemicals through value addition of by-products of petroleum industries or refineries.
Mandaviya gave this direction during a meeting at Nirman Bhawan with the Secretary (Chemicals and Petrochemicals), Secretary (Petroleum and Natural Gas), Secretary (Department of Science and Technology), PSUs and industry leaders in the petrochemical sector.
According to the Ministry of Chemicals and Fertilizers, the meeting was held to discuss methodologies for adding value to by-products of the petroleum industry that go as raw material into the downstream speciality chemical industry.
The Union Minister emphasised the need for India to go in for import substitution of these raw materials/intermediates, strengthen the existing ecosystem of PCPIR, encourage investments in cracker plants, and leverage the industrial strength of the sector for giving a boost to the speciality chemicals sector to realize Prime Minister Narendra Modi's vision of "Aatmanirbhar Bharat".
"Mandaviya directed to constitute a Joint Task Force to identify such raw/starting materials/intermediates which are imported in high values and the country has potential to produce these chemicals through value addition of by-products of Petroleum industries/refineries," the ministry said.
He stressed adopting the holistic approach for the chemical and petrochemical sector by creating synergies with other related stakeholders.
The Task Force will be responsible for identifying the crucial intermediates and raw materials having multiple value chain applications in speciality chemicals including pharmaceutical and agrochemical industries.
The task force will collectively work to promote ease of doing business by identifying solutions through Research and Development and making suggestions to the government. The Department of Science and Technology will be the nodal Department for carrying out the activities of the Joint Task Force.
The joint task force will also facilitate the development of technology and transfer it to the industry.
Mandaviya also directed that the Task Force shall prioritise the crucial chemicals in a phased manner to give a boost to the sector to make India a global champion in the chemical and petrochemical sectors.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor