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Home Law & Policy

National Policy on Petrochemicals 2007

February 23, 2021
in Law & Policy
Reading Time: 2min read
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National Policy on Petrochemicals 2007
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In News: Union Minister of Chemicals & Fertilizers present the 10th National Awards for Technology Innovation in Petrochemicals & Downstream Plastics Processing Industry.

National Policy on Petrochemicals 

  • The National Policy on Petrochemicals was announced in April 2007. 
  • The policy envisions the development of value added, quality petrochemical products at globally competitive prices using eco-friendly processes and technologies as well as Innovation of newer application and products with focus on sustainable development.

Objectives

  • To highlight the manufacturing possibilities in the country’s by boosting petrochemical industry
  • To increase the indigenous production capacity of olefins which shall boost the manufacturing sector
  • To focus on the new developments in technology & feedstock scenario in the petrochemical sector of India
  • To facilitate transfer of technology, investments, joint ventures, research and development in the petrochemicals space of India
  • To effectively deal with the issue of oversupply in the global petrochemicals market resulting in lower margins

Focus Areas

Petrochemicals and Plastics

  •  Exploring the market dynamics of petroleum products and plastics
  • Boosting plastics manufacturing in the country

PCPIRs

  • PCPIR Policy
  • Integration of Refinery and Petrochemicals
  • Infrastructure Development

Boosting Polymers Production

  • Increasing the polymers/synthetic fibers/synthetic rubber production in the country
  • Creating domestic demand besides exports
  • Increasing per capita polymers consumption to global consumption

Emerging Technologies

  • Emphasis on Research and Development Research and development (R&D) in the petrochemical industry
  • Process R&D & Product R&D in the industry
  • Development of new products
Source: PIB and assocham.org
Tags: PIBPrelims

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