Indian Chemical News, the most credible online media platform for the Chemicals, Petrochemicals, and Energy sector, is organizing the Second Edition of ‘PetroChem Summit 2024’ on December 18, 2024 at The Park, Parliament Street, New Delhi.  

The theme of the Summit is "Identifying New Opportunities for Value Creation".  

If you wish to attend PetroChem Summit 2024, please click on the link (https://www.indianchemicalnews.com/petrochem-summit-2024-second-edition/) 

Speakers for the Government Policies, Regulatory Framework and Global Sustainability Standards session are: Prof. V. N. Rajasekharan Pillai, Vice Chancellor, Somaiya Vidyavihar University; Deepak Mishra, Joint Secretary - Petrochemicals, DCPC, Ministry of Chemicals and Fertilizers, Government of India; Saugata Chaudhuri, Head – Petrochemicals, HPCL; Dhananjay Sahoo, Chief General Manager - Petrochemical, IOCL; Ajay Sardana, President & Head – Strategy and Business Development – Polyester Business, RIL; Nipun Kapila, Head - Sales & Marketing, Payal Group; and Murari Mohan Jha, Editor, Indian Chemical News. 

The Indian Petrochemical industry has been experiencing significant growth and transformation due to increasing domestic demand, supportive government policies, and a growing industrial base. 

As per recent statistics, the Indian Petrochemical industry is valued at approximately US $70-80 billion. The sector is projected to grow at about 11 per cent per annum to reach US $100 billion in 2027 and will continue to grow at a similar rate to reach US $350 - $370 billion in 2040, according to McKinsey & Company. 

The current growth is being driven by rising demand in various sectors such as packaging, textiles, automotive, healthcare, and construction. Also, the rise of E-commerce and packaging needs is particularly influencing the industry. Moreover, government’s initiatives like the Production-Linked Incentive (PLI) Scheme aim to bolster manufacturing and attract investment in the sector. The focus is also on enhancing infrastructure, which is crucial for the supply chain of Petrochemicals. 

Amongst this, there's a growing trend towards sustainable practices, including the recycling of plastic and the development of bio-based alternatives. Companies are increasingly investing in technologies that facilitate recycling and reduce carbon footprints. 

Topics to be discussed during the inaugural session are: Policy initiatives like PCPIR, Infrastructure, Supply chain ecosystem; Making Indian petrochemicals more competitive; Understanding market dynamics; Expansion of production capacities; Focus on value-added products; Technological and digital advancements; Integration with downstream industries; Embracing sustainability; and Future of petrochemicals