|
(IANS) -- With India’s petrochemical
industry poised to grow by 11 percent annually by 2017, the central government
was in the process of reviewing the policy that guides the sector, an official
said Wednesday. “The Indian petrochemical industry is projected to grow by 11
percent per annum by 2017. The sector, currently accounting for 13 percent of
the national exports and 8 percent of its imports, is currently in an expansion
mode,” said Chemicals and Petrochemicals Secretary K. Jose Cyriac.
The government is in the process of reviewing the policy for promotion of
Petroleum, Chemicals and Petrochemical Investment Regions (PCPIR) to bring it in
sync with the ground realities, Cyriac said.
The rollback of the tariff and non-tariff barriers incorporated as a
safeguard against the after-effects of the 2008 global meltdown has also
started, said Cyriac speaking at an event organised by the Indian Chamber of
Commerce here.
West Bengal Industry Minister Partha Chatterjee said the government was
committed to formulating more investor-friendly policies for fostering the
growth of the industry in the state.
mrcplast.com
| 
