With the coming of new government, on 28th May, 2014 Chemicals& Fertilisers Minister
Mr. Ananth Kumar who took charge had said that petrochemical hubs has been schedule to set up in Tamil Nadu, Assam and Orissa and to gain momentum and in
order to make the country self-dependent on the widely used soil nutrient, necessary
measures will be taken by the government to revive the sick urea manufacturing
plants. Furthermore he stresses that the government should also plans to
stimulate all closed urea plants and make the country self-reliant in
fertiliser supply.
The Chemicals & Fertilisers Minister Mr. Ananth Kumar for his
ministry on taking charge have stressed on three actions which is to set up
petrochemical hubs in a hastening efforts in Assam, Orissa and Tamilnadu, plummeting
the costs of medicines by over 25% and ensuring ample & appropriate supply
of fertilisers to farmers and reinforcement of all closed urea plants.
In the year 2013, the global economic growth of fertiliser industry had
been quite inadequate, whereas in 2014 the growth of world economic activity
was seen as recuperating. Since mid 1990s the fertiliser sector had not seen
any momentous growth to capacity for making urea which is noted as the most
important fertiliser and for improving the domestic availability of fertilisers
can only meet up by encouraging new projects particularly by existing
manufacturers, however in last two decades demand and import of fertiliser has
soared high. With the slowdown of growth in China towards 7% will affect many
other countries especially the commodity exports. In the year 2014-15, highest
growth rates have been projected in the emerging economies particularly in
Indonesia, China and India.
Furthermore with the formation of the new government, the new
Chemicals & Fertilisers Minister assures the farmers that there will
be no shortage of urea in the coming kharif season. As per the sources, India
produces nearly 22 million tonnes of urea whereas the annual domestic
demand is about 30 million tonnes. According the market outline, the Ministry
of Chemicals and Fertilizers are struggling to pay out subsidies and the demand
of India continues to remain under pressure, moreover the demand of fertiliser
may possibly collision with a nascent weakening rupee and inadequate monsoons
season. Hence an innovative and comprehensive policy for fertiliser sector is
needed.
For more than a decade the creation of chemical manufacturing hubs in coastal
India is an idea that has been languished and only one petrochemical hub
ONGC has taken off in Dahej which has commissioned a world-scale cracker
and is will considerably boost the availability of raw materials for downstream
processing. However diminutive progresses have been made by four other
clusters in Orissa, Andhra Pradesh, Karnataka and Tamil Nadu not a great deal
exists aside plans on paper. Moreover, to improve the battered image of the
Indian chemical industry, the scheduled growth will be served.
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