Aug 5, 2022: OICCI shared the policy recommendations the Ministry of Industries and Production with the aim to increase the industrial output of the country. While the Recommendations were focused on six of the fourteen identified sectors, including the Petrochemical sector for which recommendations were submitted in 2021, Food and Agriculture, Chemicals, Cables and Conductors, Hydrocarbons and Lubricants, and Refineries, the document recommended the following to improve overall productivity of the industrial sector as a separate set of recommendations:  

1. Broadening the scope of the objectives of industrial policy along with strategies to achieve targeted manufacturing to GDP ratio, and annual growth rates for the sector.
2. The policy should be adopted for longer term time periods (10 – 20 years) because industrial investment requires longer payback periods. This step would provide consistency to the policy and confidence to the corporates and foreign investors to develop their business cases.