Home / Knowledge / News / Textiles / Govt enhances R&D activities in petrochemical industry
Govt enhances R&D activities in petrochemical industry
28
Jun '10
Government has formulated a national policy to improve research and development (R&D) activities in the field of petrochemical exports, in order to improve the image of India, across the globe.

With an approximate cost of Rs 4.4-6.6 billion, the policy, 'Centres of Excellence in the Petrochemicals Sector', consists of generating R&D centres for modernisation of the petrochemical industry.

Currently, R&D expenses of the industry are standing at about Rs 2.2 billion, which is one percent of the overall industry's turnover.

As per reports released by the Union Finance Ministry's Economic Survey for the fiscal, 2009-10, the net industry turnover in petrochemicals stood at Rs 220 billion.

With this format, the government is aiming at a low-priced high-return involvement in the petrochemical segment, via public-private-partnership (PPP), to market the development of new applications of polymers and plastics, by establishing such centres of excellence (CoEs).

In addition, the existing educational and research institutions working in the filed of polymers and petrochemicals will be encouraged to established CoEs for improving goods for newer applications, innovate new design and technology, recycle process technology and enhance biopolymers and biodegradable polymers, amidst others.

The force will be levied on new process technologies for higher output polymers via green technology. CoEs will come out as globally recognised centres or groundbreaking R&D efforts, which will be consequently moved to the industry for commercial development.

Government believes that, India possesses a huge and increasing local market, but low per capita consumption of polymer and synthetic fibre (plastics). They are further of the opinion that, while the upstream petrochemical goods are technology-intensive, for which technologies are purchased from international investors, the downstream segment of the industry requires major technological revamp.

This new scheme is intended to chalk out technological innovation for goods and processes for both the upstream and downstream petrochemical industry.

As per industry reports, India has one of the lowest per capita usage of petrochemical goods, world over. For instance, the per capita usage of polyester in India is 1.4 kg, whereas in China it is 6.6 kg and world over it is 3.3 kg. Same is the situation for the per capita consumption of polymer which is 4 kg in India, whereas world over it is 20 kg.

Fibre2Fashion News Desk - India


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search