Double output in next 5 years: Chemical Minister
The Dollar Business Bureau Chemicals & Fertilisers Minister Ananth Kumar asked the chemicals and petrochemicals industry to target an annual growth rate of 14.7 percent so as to double its production in the next 5 years and said the government will support the industry’s growth story. While speaking at the “CHEMINAR-2016” in New Delhi on Friday, Kumar said, “India’s chemicals and petrochemicals industry is growing at the rate of 11–12 percent and has a production of worth $200 billion per year. I called upon the industry to go for a growth rate of 14.7 percent per year so as to increase its output to twofold in the next 5 years. The Government will facilitate in the growth story,” he added. On the issue of cost ...
Govt plans chemical hubs to boost industry
The Dollar Business Bureau The government plans to establish chemical hubs across several states, and to set up Central Institute of Chemical Engineering and Technology (CICET) on the lines of Central Institute of Plastic Engineering and Technology (CIPET) to cater to the demands of chemical industry. India already has 22 refineries, and it plans to create chemical hubs state by state. “We have decided in the ministry that we are going to make all the 22 refineries in the country as nerve centres, and petro-chemical complexes, crackers will come around surrounding them so that we can handle infrastructural, environment and logistical issues together,” said Ananth Kumar, Union Minister for Chemicals and Fertilisers. The government will set up five CICET centres, and CIPET will ...
Paint chemical shipments from China, Swiss to face anti-dumping duty from GoI
The Dollar Business Bureau In a move to protect domestic industry from cheaper shipments, Government of India is likely to impose anti-dumping duty on chemical imports from China and Switzerland. Under the supposed move, Indian government is likely to impose duty of up to $7.58 per kg on shipments of a chemical used mainly in paint industry from the said countries. Government’s decision was based on recommendations of the Directorate General of Anti-dumping and Allied Duties (DGAD) which carried anti-dumping duty investigation on the imports of ‘Diketopyrrolo Pyrrole Pigment Red 254’ originating in or exported from China and Switzerland. According to the DGAD final findings, the pigment that has been exported to India from the two countries was found to be below the ...
