Govt mulls policy for chemical sector to woo investors

The government is planning to bring out a policy to attract investments in the chemical sector, a  government official said.

"A task force has been constituted and a road map for the growth of the industry in the next 10 years is expected to be charted out shortly. The proposed chemical policy would be based on the recommendations made by the task force for the chemical industry to woo more investments in this sector," Department of Chemicals and Petrochemicals Joint Secretary S C Gupta today said.

He said the task force, which will be headed by Arum Mehra, Member, Planning Commission will frame an achievable action plan for improving growth in the next 10 years in the chemical industry.

"The task force will identity specific regions for the industry to spread across," Gupta said.

He said the industry was growing at a rate of 8-10 per cent and the country stands sixth in the world and third in Asia after Japan and China in terms of petrochemicals and chemical sector.