Indian Chemical News (ICN), the most credible online media platform for Chemicals, Petrochemicals, and Energy sector, is organizing a virtual session on "R&D: New Sustainable Materials for Chemicals & Petrochemicals Industry" on July 21, 2022 in the second edition of ‘NextGen Chemicals & Petrochemicals Summit 2022’. 

The two-day virtual Summit is organised on July 21-22, 2022 and the main theme is "Driving Sustainable Growth." One can register as a delegate for the virtual session by clicking on the link (https://www.indianchemicalnews.com/nextgen-chemical-and-petrochemical-summit-register )

The speakers for the virtual session are: Prof. G. D. Yadav, Emeritus Professor of Eminence, Institute of Chemical Technology Mumbai; S. Sriram, Chief General Manager - R&D, HP Green R&D Center; Prof. Dr. R. K. Khandal, President - R&D & Business Development, India Glycols Ltd.; Bijal Mathkar, Research & Innovation Director, Solvay Research & Innovation Centre India; R. Subramanian, Head - QA, Bharat Petroleum Corporation Ltd. The virtual session is moderated by Pravin Prashant, Editor, Indian Chemical News.

Research and Development (R&D) is the most vital element for the growth of the chemical industry. The global chemical industry is investing over US $51 billion in R&D every year to keep costs low by developing more efficient processes for new products and services.

While MNCs spend 9-10% of their total turnover on R&D, the spend by Indian chemical companies on R&D is still in the range of 2-3%.  India is ranked 7th with US $2 billion investment in R&D. The Indian chemical industry needs to make large investments in R&D to become leading players in the international chemicals market.

“With rapid changing development in every segment of the industry, there is a need to shift the gear from the lab based process of discovering and developing new chemicals to new business models driven by digital ecosystems that combine products and services, enabled by technology,” Pravin Prashant, Editor, Indian Chemical News, said.

Industry is witnessing the rise of open digital platforms used in material informatics. Industry also needs to develop new capabilities in areas such as sustainability and circular economy. In order to achieve this, companies will have to reimagine their innovation strategy. Innovation has become critically important to a chemical company’s success and for building a sustainable competitive advantage, Prashant added.

The key discussion points for R&D session are: Development of new sustainable materials in chemicals & petrochemicals industry; Integrating capabilities to drive long-term value; Digital approach to solve materials challenges; Creating synergy between industry and academia; Enhancing Indian inventorship of patents; and Mentoring startups for sustainable materials/green chemistry.