Chemical and petrochemical imports encroachment domestic value addition, wealth creation

Author yuvamind

New Delhi:Department of Chemicals and Petrochemicals Secretary Surjit K Chaudharysaid, India has emerged as one of the biggest importers of petrochemicals, resulting in big capital outflow apart from impacting the economy because of its disability to produce finished products and its accompanying import resulting in sub-optimal wealth creation on July 7. the Department of Chemicals and Petrochemicals, secretary Chaudhary said in case of addressing a discussion on ' Potential of Coal Gasification in India ' organized by FICCI jointly with him that India lacks reserves of petroleum and gas but has rich reserves of coal. He suggested that it was time to encourage use of better technology and modern methods of exploration and production to increase coal gasification. While the discussion debated the potential of coal as a source for making chemicals and petrochemicals and the global developments. He added that India was importing chemicals and petrochemicals and was selling it to other countries. These countries were then exporting finished products to India, making a nick on India ' s economy and also destroying local community handwork. Shyam Bang, Executive Director Jubilant Life sciences said that India needs to adopt a strategic approach for coal gasification and industry too needs to investĀ in chemical coal. With new policies in place, India is bound to increase its production and start generating surplus within a span of two years. He added that the government should promote more coal-based gas plants on the lines of the one which is in Odisha. Presentations were also made by Malini Hariharan, Global Course Director/Head of South Asia Markets, ICIS, on ' The use of Coal as a Chemicals Feedstock - the experience in other countries around the world, especially China, the opportunities for India and key challenges ' ; Sanjay Sharma , Managing Director , Middle East & India , IHS Chemical Consulting , Dubai on ' Coal to Chemicals Opportunities with special focus to India ' ; Prema Viswanathan, Associate Editorial Director - Petrochemicals, PLATTS McGraw HILL Financial, Singapore, on ' Coal to petrochemicals developments in China and lessons for India ' ; Dr. Ajay Kumar Singh, Head, Methane Emission & Degasification, Central Institute of Mining and Fuel Research, Dhanbad, on ' Coalbed Methane and Allied Activities ' and Prof. D K Sharma, Centre for Energy Studies, IIT Delhi, on ' Clean Coal Technologies with reference to Gasification and CO - Gasification of Coal.
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