Industry News Nod for New Petrochem Policy

摘要

The Central Government has approved the National Policy for Petrochemicals,which would provide for tax incentives to the industry,enabling the country to emerge as a global player in this segment.It also provides for setting up an inter-ministerial expert committee that would recommend that use of plastics in the thrust areas be made mandatory.The Cabinet has also approved constitution of a Petrochemical Technology Upgradation Fund and the Plastics Development Council.The new policy proposes allowing medium and large industries to manufacture certain plastic items,which are now reserved for the small-scale sector.The Plastics Export Promotion Council has also been transferred to the control of the Department of Fertilisers and synthetic fibres industry has been brought under the Technology Upgradation Fund(TUF)for textiles.