Indian Chemical News is organising the Fourth Edition of its flagship event “NextGen Chemicals & Petrochemicals Summit 2024”, to be held on July 11-12, 2024 at the Novotel Mumbai International Airport, Mumbai. The theme of this year’s Summit-cum-Conference is "Transforming India into a Global Manufacturing Hub.”

The Inaugural Panel will be addressed by Prof. V. N. Rajasekharan Pillai, Vice Chancellor, Somaiya Vidyavihar University; B. Narayan, Group President, Reliance Industries Ltd.; A. Ramalingeswara Raju, Vice President (I/C) - APEDB; (Joint Director - Commissioner of Industries), Govt. of Andhra Pradesh;  Mr. Sanjay Khanna, Director (Refineries), Bharat Petroleum Corporation Ltd.; Mr. Vikram Handa, Managing Director, Epsilon Carbon Pvt. Ltd. and Ms. Bhavana Bindra, Managing Director India, Middle East and Africa, The Lubrizol Corporation.

These esteemed leaders will speak on the strategies to make India a global chemical manufacturing hub.

The Indian chemical industry is one of the fastest-growing sectors in India, contributing seven per cent to the country's GDP. According to the Department of Chemicals and Petrochemicals, the Indian chemical industry's market size is expected to reach US $304 billion by 2025 from the current US $212 billion. McKinsey estimates the market size of the Indian chemical industry to reach US $800 billion to US $1 trillion by 2040.

The industry is undergoing rapid changes, as companies adapt to meet evolving market demands and embrace new technologies. As the industry becomes more specialized, innovative and sustainable, it offers opportunities for growth and investment. However, the moot question is how to achieve this target and what strategy should industry adopt to take the industry’s growth to the next level? Achieving a target of US $1 trillion for the Indian chemical industry by 2040 will require a combination of strategic measures, policy support, and industry collaboration.

Overall, the Indian chemical industry has a bright future and is expected to continue growing in the coming years, driven by strong domestic demand, export opportunities, government support, and increasing demand in related sectors.

The Summit is supported by DCM Shriram Chemicals as principal partner, Somaiya Vidyavihar University as academia partner, Cadmatic as platinum partner and Andhra Pradesh Economic Development Board (APEDB), Govt. of Andhra Pradesh as state partner. 

Gold partners for NextGen Chemicals & Petrochemicals are: Epsilon Carbon, Forbes Marshall, Gharda Chemicals, Indofil Industries, Ingenero, IPCO, Jaaji Technologies, Moglix, PIP, Port of Antwerp - Bruges, RIECO and Re Sustainability. Associate Partners are: HPCL and Nuberg EPC. Supporting partners are: Aarayaa Advisory Services, Archroma, India Glycols and Tata Steel Special Economic Zone and industry association partners are: ACFI, AMAI, CropLife India, Gujarat Chemical Association and PMFAI.