The Centre will soon come up with a Production-Linked Incentive (PLI) scheme for basic chemicals for the promotion of the overall chemical sector, Union minister Mansukh Mandaviya said here on Saturday.
Mandaviya also said that his ministry has been working on an international-standard drugs and cosmetic bill which will be introduced in the Cabinet in a month's time before being passed in Parliament. He was addressing members of the Southern Gujarat Chamber of Commerce and Industry.
The government's PLI scheme is aimed at improving the cost competitiveness of domestically manufactured goods and enhancing domestic capacity and exports.
"If we support basic chemicals, then agrochemicals and pharma chemicals, all types of chemicals will become cheaper to make. So, in a short time, we are coming up with a PLI scheme for basic chemicals. It will be useful to promote the chemical sector, he said.
Basic chemicals, produced in large quantities, are usually sold within the chemical industry and to other industries before becoming products for the general consumer.
The Union minister of health and family welfare, chemicals and fertilisers further said that since the past year, his ministry has been working on a law for drugs and cosmetics that are of international standard keeping in mind India's ambition of becoming the exporter of the world.
It (the bill) will be brought before the Cabinet in the next one month and then passed in Parliament, he said, referring to the proposed Drugs, Medical Devices and Cosmetics Bill, 2022.
The pre-Independence Drugs and Cosmetic Act was amended from time to time but needs a major overhaul, he said.
Now that we are to become an exporter in the world, we will have to keep in mind three priorities quality, affordability and, most importantly, to create demand for the product, he said.
Mandaviya said the job of the government is ultimately to work as a facilitator to encourage the industry, and understand their issues through dialogue, discussion and deliberation.
He said the Centre is taking steps to encourage the manufacturing of medical devices domestically for which four industrial parks are coming up and anti-dumping duty has been imposed on their import.