Import of chemicals & petrochemicals adversely impacting domestic value addition: Department of C&PC
Updated: Jul 08, 2015 12:29:44pm
New Delhi, July 8 (KNN) India has emerged as one of the biggest importers of petrochemicals, resulting in sizeable capital outflow apart from impacting the economy because of its inability to produce finished products and its consequent import resulting in sub-optimal wealth creation, said Surjit K Chaudhary, Secretary, Department of Chemicals & Petrochemicals.
While addressing a symposium on ‘Potential of Coal Gasification in India’ organized by FICCI jointly with the Department of Chemicals and Petrochemicals, Government of India, Chaudhary said that India lacks reserves of petroleum and gas but has rich reserves of coal.
Still, the country has not been able to provide adequate coal feedstock to its plants. He suggested that it was time to encourage use of better technology and modern methods of exploration and production to enhance coal gasification.
While the symposium debated the potential of coal as a source for making chemicals and petrochemicals and the global developments, especially, in relation to China as also emerging technologies in the sector, especially, in the context of environmental ramifications, Chaudhary said that though it is one of the sectors which was delicensed and allowed 100 per cent FDI early on, the sector never realized its true potential.
He added that India was importing chemicals and petrochemicals and was selling it to other countries. These countries were then exporting finished products to India, making a dent on India’s economy and also destroying local community crafts.
Shyam Bang, Executive Director, Jubilant Life Sciences, said that India needs to adopt a strategic approach for coal gasification and industry too needs to invest in chemical coal. With new policies in place, India is bound to increase its production and start generating surplus within a span of two years. He added that the government should promote more coal-based gas plants on the lines of the one which is in Odisha.
Coal has high ash content, said Bang and added that technology would play a major role in coal gasification. He also stated that the pricing which is being decided by Coal India should become competitive to match the global standards. (KNN Bureau)
While addressing a symposium on ‘Potential of Coal Gasification in India’ organized by FICCI jointly with the Department of Chemicals and Petrochemicals, Government of India, Chaudhary said that India lacks reserves of petroleum and gas but has rich reserves of coal.
Still, the country has not been able to provide adequate coal feedstock to its plants. He suggested that it was time to encourage use of better technology and modern methods of exploration and production to enhance coal gasification.
While the symposium debated the potential of coal as a source for making chemicals and petrochemicals and the global developments, especially, in relation to China as also emerging technologies in the sector, especially, in the context of environmental ramifications, Chaudhary said that though it is one of the sectors which was delicensed and allowed 100 per cent FDI early on, the sector never realized its true potential.
He added that India was importing chemicals and petrochemicals and was selling it to other countries. These countries were then exporting finished products to India, making a dent on India’s economy and also destroying local community crafts.
Shyam Bang, Executive Director, Jubilant Life Sciences, said that India needs to adopt a strategic approach for coal gasification and industry too needs to invest in chemical coal. With new policies in place, India is bound to increase its production and start generating surplus within a span of two years. He added that the government should promote more coal-based gas plants on the lines of the one which is in Odisha.
Coal has high ash content, said Bang and added that technology would play a major role in coal gasification. He also stated that the pricing which is being decided by Coal India should become competitive to match the global standards. (KNN Bureau)
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