Tech support for plastic industry
Since oil prices are largely an external impost on the Indian economy, a key aspect is to equip the downstream plastics industry with technologies that can cut costs.
By ET Bureau |
NEW DELHI: It fits in with the policy priority of inflation control without unduly hurting growth, to reduce the price escalation of petrochemical products.
Since oil prices are largely an external impost on the Indian economy, a key aspect is to equip the downstream plastics industry with technologies that can cut costs.
In the long run, the proposed petrochem investment regions, which would consist of units sharing common infrastructure, would serve the purpose of controlling prices of value added petrochem products.
The new scheme for petrochemical research and development, announced as part of the new petrochem policy, is yet to show results on the ground. The government should take urgent steps to release funds under the scheme so that the industries can upgrade technologies and keep prices bridled, without turning commercially unviable.
The funds should be available to projects of R&D, waste management, recycling and development of biopolymers and bio-degradable polymers.
Since oil prices are largely an external impost on the Indian economy, a key aspect is to equip the downstream plastics industry with technologies that can cut costs.
In the long run, the proposed petrochem investment regions, which would consist of units sharing common infrastructure, would serve the purpose of controlling prices of value added petrochem products.
The new scheme for petrochemical research and development, announced as part of the new petrochem policy, is yet to show results on the ground. The government should take urgent steps to release funds under the scheme so that the industries can upgrade technologies and keep prices bridled, without turning commercially unviable.
The funds should be available to projects of R&D, waste management, recycling and development of biopolymers and bio-degradable polymers.
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