Vizagapatam Chamber of Commerce and Industry has asked the Government of India to expedite the finalisation of National Chemical Policy to encourage investments.
The policy, which has been on drawing board for a long time, is aimed at bringing a comprehensive legislation to strengthen the share of manufacturing by the petroleum and chemical industry.
There are many measures that are required to make this sector investment-friendly. Currently there are multiple legislations in India governing chemicals industry, according to VCCI vice-president and an expert on shipping industry A.V. Monish Row.
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He has told
The PCPIR Special Development Authority, which is in the process of holding a public hearing after getting clearance from the government, is expecting an investment of Rs.3.43 lakh crore within five to seven years from grounding the project.
Currently, the chemical industry comes under the purview of different ministries like Ministry of Forests (Environment Protection Act), Ministry of Labour (Factories Act), Ministry of Roads (Motor Vehicles Act), Ministry of Commerce (Explosives Act), Ministry of Home (Disaster Management Act), Department of Chemicals (The CWC Act) and Ministry of Rural Development (Land Acquisition Act).
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Mr. Row has said the new policy must also include rules governing registration of substances, preparation of national inventory, restrictions on hazardous substances, detailed classification and labelling and transport classification. The government must focus on protecting human health and environment and have a sustainable chemical policy replacing several environment-related legislations.
Commenting on alleged handling of hazardous chemicals at Visakhapatnam port causing heavy pollution in the city, he has said necessary precautions are being followed as per international protocols.
According to him, the guidelines of International Maritime Organisation, a United Nations’ agency, are being followed by the port authorities.