The chemical and petrochemical industry plays a crucial role in India’s economy, acting as a foundation for various sectors. The department of chemical and petrochemical has taken commendable steps to reduce the dependence on imports, enhance infrastructure, and improve the business environment, with a strong emphasis on incorporating chemical sustainability into the growth narrative.
The primary activities of the department in the current year include:
*The department of chemicals and petrochemicals has implemented the new scheme of petrochemicals, which includes sub-schemes such as (i) the scheme for setting up centres of excellence, (ii) the petrochemicals research and innovation commendation scheme, and (iii) the scheme for setting up plastic parks.
*Under the plastic parks initiative, the department encourages the establishment of need-based plastic parks equipped with state-of-the-art infrastructure and essential common facilities. The goal is to consolidate and synergize the capacities of the downstream plastic processing industry, fostering increased investment, production, and exports, along with job creation. Currently, ten plastic parks have received approval in various states, and they are in different stages of implementation.
*Regarding centres of excellence (CoEs), the objective is to provide financial support to educational and research institutions for enhancing existing technology and promoting the development of new applications in polymers and plastics. The focus of the scheme is on modernising and upgrading existing manufacturing processes, as well as improving product quality. Up to now, 13 CoEs have received approval.
As reported by the Press Information Bureau, the petrochemicals research and innovation commendation (PRIC) scheme aims to recognise outstanding innovations and inventions in the petrochemical field, including products, processes, and related areas. The government acknowledges meritorious contributions to research and development in the petrochemical sector, with the ultimate goal of achieving more efficient energy consumption, effective plastic waste management, and the development of new products.
