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Chemical Sector growing @ 9% but no major investment being made: Secretary

By TIOL News Service

NEW DELHI, NOV 29, 2017: CHEMICAL industry, a key manufacturing driver, is growing at 8 to 9% p.a. and has potential to grow much faster. However, there are no major investments being made in the sector by big international players, according to Mr Rajeev Kapoor, Secretary, Department of Chemicals & Petrochemicals, Ministry of Chemicals & Fertilizers.

While speaking at the 4th edition of CII Chemistry Everywhere Conference yesterday in New Delhi, Mr Kapoor said that the chemical sector although globally competitive, is constrained domestically. Still, much more can be enhanced by keeping close interaction with the user segment. One important action plan for government will be to work with the consumers and industry and then develop the products, he said.

The Chemistry Everywhere Conference- Energizing Make in India through the Chemical & Petrochemical Industry was organized by the Confederation of Indian Industry (CII) in partnership with Department of Chemicals & Petrochemicals,Ministry of Chemicals & Fertilizers.

The Secretary emphasized on giving focused attention to few policy areas including revising the PCPIRs, as three out of the four PCPIRs are not reflecting desired results. ‘Our trade Policy also needs stability and we have already taken up that with the Ministry of Commerce’, he added.

Elaborating on the objectives of the CII Chemistry Everywhere campaign, Dr Raman Ramachandran,Chairman, CII National Committee on Chemicals said, with the mission mode set forth by Hon’ Prime Minister’s Make in India campaign, the chemical sector is truly being geared for the next phase of growth.


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