Key government policies impacting chemical manufacturing
Why Government Policies Matter in Chemical Manufacturing
– Government policies influence growth, innovation, and global competitiveness in the chemical sector. – Supportive initiatives boost production, exports, and sustainability efforts.
Production Linked Incentive (PLI) Scheme
– Encourages domestic manufacturing of specialty and bulk chemicals. – Provides financial benefits for producing high-value chemicals used in electronics, EVs, and pharma.
National Chemical Policy (Upcoming)
– Aims to enhance the competitiveness of Indian chemical manufacturers. – Focus on sustainability, innovation, and export growth.
Environmental Regulations and Compliance
– Strict guidelines on emissions, waste management, and eco-friendly production methods. – Push for adopting green chemistry practices and renewable energy in manufacturing.
Import Duty Reductions
– Reduced duties on raw materials like feedstock and intermediates lower production costs. – Enhances export potential and profitability for Indian manufacturers.