Maharashtra to announce separate chemical industry policy in first week of November

The Maharashtra government is drafting a separate Chemical Industry Policy to increase investment in the chemical sector. Chief Minister Devendra Fadnavis said the policy would be announced in the first week of November.

According to Fadnavis, the policy is being prepared keeping in mind growing industrial needs, the infrastructure required for investment and an industry-friendly environment. There is also a plan to develop a large chemical industry hub around the Vadhavan port in Palghar district.

The Chief Minister said about 3,600 industries in the state work in the chemical sector. Maharashtra accounts for about 19 per cent of the country's total gross value added in the chemical industry, and about 17 per cent of exports of chemical products.

He said the state offers a good environment for the production of petrochemicals, agrochemicals, speciality chemicals, polymers and industrial chemicals. Industry representatives were consulted while framing the separate policy, and their needs and expectations of further investment have been taken into account.

Fadnavis said the government wants industries to get approvals easily, investors to receive all required services in one place, and industries not to be held up by the procedures of different departments. To this end, investors are being offered easy service through a single-window platform called "Maitri" and the "Invest Maharashtra" initiative.

On the Vadhavan port, he said it would give a major boost to the state's industrial development. Around the port there is an opportunity to develop the infrastructure required for chemical industries and clusters of industries. The Centre's announced chemical park scheme is also expected to help draw large investment to Maharashtra.

On the pharmaceutical sector, he said the country's pharma sector has made an important place for itself in the world, but more self-reliance is needed in producing active pharmaceutical ingredients (APIs) required for medicines. He said production in the country needs to be increased through bulk drug parks, and efforts are on to create the required industrial environment for this sector in Maharashtra too. According to him, this will reduce dependence on imports in the pharma sector and promote production within the country.

Fadnavis said the chemical industry is important for many sectors, including construction, pharmaceuticals, automobiles, textiles, agriculture, fertiliser, packaging and infrastructure. To benefit from growing opportunities, it is necessary to stress research, modern technology and value-added products. Changes in global supply chains have given India new opportunities in this industry.

The Chief Minister said it was necessary to use these opportunities to increase production in the country and strengthen its position in the international market. He said the sector currently provides about three lakh jobs in Maharashtra and has the potential to double employment.

UPL group chairman Jai Shroff, Reliance Petrochemicals executive director Nikhil Meswani, FICCI senior vice president Vijay Shankar and Union Chemicals Ministry secretary Tejveer Singh shared their views on the chemical industry on the occasion. FICCI chemicals committee chairman Bimal Gokuldas proposed the vote of thanks.