Import duty on basic and bulk chemicals may go up

摘要

THE department of chemicals proposes to recommend a hike in import duty of major basic and bulk chemicals in order to generate funds for setting up of technology upgradation fund for the sector. According to official close to the development, the technology upgradation and innovation fund will be set up for the chemical sector in line with textile sector to promote green technology and processes in the chemical companies. These chemicals will be the ones which are basically imported due to price differential rather than unavailability in the domestic market.