The 3rd edition of the NextGen Chemicals & Petrochemicals Summit, organized by Indian Chemical News, has received tremendous response from all segments of the chemicals, petrochemicals and allied sectors.

Being held on July 13-14, 2023 at Hotel Novotel, Mumbai International Airport, Mumbai, the theme of the Summit is "Innovation, Self-reliance & Sustainability”.

The Summit is all set to witness over 100 thought leaders from the industry and academia brainstorming and developing future roadmap through over 30 panel discussions, presentation and case studies. The objective is to devise strategy and mechanism to make Indian chemicals and petrochemicals industry self-reliant through innovation while keeping sustainability in the focus.

The 2-day Summit is expected to be attended by over 300 delegates from chemicals and petrochemicals hubs in India. The Summit, being organized in Confex format, will also facilitate buyer-supplier networking.

The chemical industry is a key contributor to global economic growth. The sector is contributing 25% in US GDP, expected to contribute 25% of India’s manufacturing GDP by 2025 and 32% to international export. However, it is also one of the most resource-intensive and polluting industries, with significant negative environmental impacts. In order to address these challenges, sustainability and innovation are critical. In recent years, the industry has made significant strides in developing more sustainable processes and products by reducing waste and emissions, using renewable energy sources, and developing eco-friendly products.

Innovation is also essential to achieve sustainability goals and industry’s growth. This includes developing new materials and chemicals that are less harmful to the environment, as well as finding ways to reduce the use of materials and energy while increasing efficiency. The chemical industry is increasingly engaged in the development of innovative and sustainable solutions, often in collaboration with other industries and stakeholders.

Overall, the chemical industry is committed to sustainability and innovation. By addressing challenges through these two key areas, the industry can achieve a more sustainable future. And, this will surely help in making chemicals industry suitably self-reliant.

"There are several key steps that needs to be taken to make the chemical industry self-reliant. These include Developing domestic sources of raw materials, increasing investment in R&D, fostering innovation, technological development, digitalisation, seamless supply chain, improved infrastructure and developing skilled manpower," Pravin Prashant, Editor, Indian Chemical News, said. 

A mix of government policies, private investment, and industry initiatives can help to increase self-reliance in the chemical industry. By taking steps to develop domestic sources of raw materials, invest in R&D, foster innovation, improve infrastructure, and support workforce development, the industry can become more self-reliant and better positioned for long-term success and growth, Prashant added.

Indian Chemical News will publish a comprehensive report on the NextGen Chemicals & Petrochemicals Summit on 2023. Get the latest update on ICN’s social media handles. Stay Tuned!