The chemical industry should make concerted efforts to achieve the goal of sustainable development by using the latest advancements in science and technology in all its areas of functioning, said Srikant Jena, Minister of State for Chemicals and Fertilizers, while addressing the two day seminar on ?Challenges and Opportunities for Education and Research for Development of Sustainable Chemical and Allied Industries? organized by Institute of Chemical Technology in Mumbai. He said that innovation through research and development holds the key to sustainability in the chemical industry. And the role of Institute of Chemical Technology shall also be essential in meeting the challenges and opportunities for education and research for development of sustainable chemical and allied industries.

Jena said that synthetic chemicals are used to make virtually every man-made product and play an important role in the everyday life of people around the world. As with other large manufacturing industries, the chemical industry can also have a negative impact on human health and the environment when the production and use of chemicals are not managed responsibly. He further said that from the use of non-renewable resources for fuel and feed-stocks (e.g. oil and gas), to the release of pollutants from factories during production, to the disposal of final products that contain hazardous waste, each stage of the lifecycle of a product produced by the chemical industry adversely affects human being and the environment.

The mnister said that the concept of sustainability and sustainable development have been engaging the attention of policy makers, academicians, scientists, corporate bodies and the general society. He said the sustainability is a path forward that allows meeting environmental, economic and societal needs without compromising the progress and success of the future generations and sustainable development will happen only if three goals ? economic, environmental and societal - are harmonized. He further said that the chemical industry as well as the Chemical Technology institutes recognize and acknowledge the importance of sustainability. Globally, the chemical industry has already taken some initiatives towards sustainability and sustainable development. Initiatives such as Responsible Care, Self-Monitoring Systems, and other voluntary programmes such as Sustainable Technology (SUSTECH), and Strategic Approach to International Chemicals Management (SAICM) are all part of this effort.

Outlining the growth of Indian chemical Industry, he said that the Chemical industry globally is estimated at US $ 3.4 trillion and is one of the fastest growing sectors of the manufacturing industry. The Indian Chemical industry has also been growing steadily and the credit for this growth goes to all of you. The chemical industry in India, since independence, has been contributing significantly both to the industrial and economic growth. The fact that the chemical sector accounts for about 18% of the output of the manufacturing sector, 14-15% of total exports and 8-9% of total imports of the country is a matter of great satisfaction. Chemicals including petrochemicals sector contributes 3% to India?s GDP. It is a matter of pride that Indian Chemical Industry ranks 6th in the world in terms of volume and 3rd largest in Asia.