A production linked incentive (PLI) scheme for the chemical industry is in the works. The scheme will be finalized by consulting the industry and understanding its concerns. The chemical industry is expected to receive a major boost in domestic manufacturing and exports as a result of it.
Addressing a webinar on 'Implementation Strategy of Budget Announcement 2021-22', Chemicals and Fertilizers Minister D V Sadananda Gowda said the government is working on
a consultative approach in forming the policies for India's chemicals and petrochemicals sector. The webinar was organized by the Department of Chemicals & Petrochemicals and FICCI.
"Implementations of the Budget announcements cannot be done only by the government. We should take our industry in confidence so that implementations can start from first week of April. The challenge for the government is to now match the suggestions of the industry with the implementation part,” he was quoted as saying in a FICCI statement.
Gowda said the budget has provided a boost to the Indian pharmaceutical sector. The big push for the pharma sector is being seen as an attempt to discourage the imports of raw materials that are widely used in local manufacturing, he said, as per a report by Business Standard.
Mansukh Mandaviya, Minister of State for Chemicals & Fertilizers, said that the government is working to introduce PLI scheme for the chemicals sector to increase domestic production, according to FICCI statement.
Magazine
