India to expand petrochemical industries in north-east to tap markets in neighbouring countries

India has chalked out a ‘well documented’ strategy to expand its hydrocarbon and petrochemical industries in its northeastern region to tap markets in neighbouring countries like Bangladesh, Myanmar, Nepal, Bhutan and Thailand.

To leverage the hydrocarbon sector of India’s north eastern states, the government released a ‘Hydrocarbon Vision 2030’.

“To achieve the vision, a collaborative effort of central and state governments is necessary with the determination to bring the developmental shift that the people of North East deserve. This will be a concrete step towards realising our Prime Minister’s vision to develop the North East India in a mission mode,” said India’s Petroleum and Natural Gas Minister Dharmendra Pradhan on Wednesday.

The focus areas include exploring hydrocarbon linkages and trade opportunities with Bangladesh, Myanmar, Nepal and Bhutan.

“Other core areas of focus  are implementation of ‘Make In India’ in the region; development of health and medical facilities; industrial policy and infrastructure related action points; focus on skill development; and employment generation requirement in the region”, the vision document said.

The vision statement lays out a detailed roadmap for the entire hydrocarbons value chain, covering upstream, midstream and downstream segments.

This report includes an action plan – of immediate, medium-term and long-term initiatives – to help achieve the objectives.

“Ministry of Petroleum and Natural Gas has consciously and constantly focused efforts towards making hydrocarbons a tool to enable social and economic development. One such initiative has been the Hydrocarbon Vision 2030 for North East Region,” Pradhan said.

“Drafted with inputs of various stakeholders, industry players and state governments, the vision document do not only includes the ambition for the region but also an actionable roadmap,” he claimed.

The objectives of the plan are to leverage the region’s hydrocarbon potential, enhance access to clean fuels, improve availability of petroleum products, facilitate economic development and to link common people to the economic activities in this sector.

The states covered include Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.

The ministry undertook series of consultations with the state governments while drafting the vision document.

Vision 2030 also aims at doubling oil and gas production by 2030, making clean fuels accessible, fast tracking projects, generating employment opportunities and promoting cooperation with neighbouring countries.