Oct 5:India Government plans to run electric buses on Methanol fuel derived from coal. It will be run as a pilot project in Mumbai, Navi Mumbai, Pune and Guwahati, according to Nitin Gadkari, Union Minister for Road Transport and Highways Development.
Inaugurating India Chem 2018, organised by FICCI along with the Department of Chemicals and Petrochemicals, he pointed out that the governemnt has taken a decision to increase production of ethanol. This is the time for India to find solutions for import substitutes, the chemical industry must work towards finding the solutions to curb imports of crude oil at rising prices.He also emphasised to find a policy to encourage the industry to reduce imports and urged the Indian chemical industry to see, if agriculture material can be used to make chemicals, which will be a game changer for the country.
Commenting on the opportunities in the sector, Mr P. Raghavendra Rao, Secretary, Department of Chemicals and Petrochemicals, Government of India, Chemicals and Fertilizers, Government of India said, “It is the right time to invest in Indian chemical and petrochemical industry due to vast opportunities that the sector offer. In the last seven years, production of total major chemicals and petrochemicals has grown 6.2% and is projected to grow by 9.3% by FY 2025. There are opportunities in sectors such as specialty chemicals, pharma, biotech.”
Welcoming the gathering Mr Deepak Mehta, Chairman – FICCI Chemical industry Committee and Chairman and Managing Director of Deepak Nitrite Ltd., said, “As India gains increased traction from major countries, looking at investment in the Indian chemical sector, the government needs to put its combined vigour to grow the chemical industry multi-fold in coming decade”. He further highlighted that with improved infrastructure, road connectivity, coal/piped energy and already being the 7th largest in size, India has achieved the eco-system as formidable player in the chemical market. He also emphasised on the opportunities for the Indian chemical companies to rapidly grow in size, especially with respect to China.