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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


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