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Jail for Delayed ID Card Issuance: How Over-Compliance Is Destroying the Chemical Industry

Posted on by Dsen .N

iStock

summary

If this promising segment, which includes a significant number of SME players, is to realise its potential, it is time to get rid of the complex and extensive regulatory framework in the chemical industry.

12 minutes of readingLast updated:

Global volatility and economic shocks don’t worry the Indian chemical industry as much as the labyrinth of regulations that can land it in jail or impose hefty fines for violating a range of minor rules. “Once, we got a notice for not providing ‘enough’ cool drinking water. We were facing up to two years in jail,” says a Faridabad-based promoter of a chemical company, who wished to remain anonymous. While drinking

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