GoI revamps PCPIR Policy
Published: June 26, 2020
On June 25, 2020, the chemicals and Fertilizers Advisory Forum meeting was held. The meeting was chaired by the Union Minster of Chemicals and Fertilizers Shri Sadananda Gowda.
This was the second meeting attended by the members of the forum. The forum members during the meet discussed possible ways to realize Atma Nirbhar Bharat Abhiyan.
The Government of India has taken several measures to improve ease of doing business in India. India today ranks 63 in ease of doing business. For the orderly development of the petrochemicals sector, 19 chemicals and 5 petrochemicals were brought under BIS standard.
The GoI has also revamped PCPIR policy to support rapid growth of industries through mix of right incentives.
The PCPIR is Petroleum, Chemicals and Petrochemicals Investment Regions. It is an investment policy that aims to make India a hub of domestic and international market.
The Department of Chemicals and Petrochemicals will act as the nodal department in implementing the policy.
About PCPIR policy
- The region under the policy will be a combination of production units, environmental protection mechanisms, public utilities, logistics, administrative services and residential areas.
- It will include one or more Industrial parks and Special Economic zones
- Every PCPIR will have a petrochemical or refinery feedstock company as an anchor tenant.
Role of GoI in the policy
- The GoI will constitute a high powered committee to make sure there is coordination among state governments and central governments.
- GoI will make sure there is availability of physical infrastructure linkages to the PCPIRs. This includes airports, seaports, rail, road in time bound manner
- The State Governments will play the leading role in establishing PCPIRs as land is a state subject.
Month: Current Affairs - June, 2020