By: ICN Bureau
Last updated : May 25, 2023 9:30 am
Indian chemicals industry is growing at a rate of 15-20% and investments of around Rs 8 lakhs crores is expected within next 3 to 4 years.
Global Standard Chemical Hubs and Chemical Parks with plug-and-play facilities will be set up in India to meet the rising domestic and overseas demand, said Dr Mansukh Mandaviya, Minister for Chemicals & Fertilizers, Government of India at the International Conference on Chemicals & Petrochemicals organised today at New Delhi by CII in association with the Department of Chemicals and Petrochemicals, Ministry of Chemicals & Fertilizers, Government of India.
Dr Mandaviya, Chief Guest, in his Inaugural Address through virtual platform mentioned that to meet the skilling requirement of the industry, the Ministry is committed to skill 1.2 Lakhs person per annum in the Chemicals and Petrochemicals sector. Speaking further, Dr Mandaviya highlighted the four priority areas that will prove transformative for the industry viz. digital economy, education, energy transitions and environment & climate sustainability.
Bhagwanth Khuba, Minister of State for Chemicals & Fertilizers, Government of India was the Guest of Honor on the occasion and in his address, Khubha highlighted the various initiatives being taken by the Ministry of Chemicals & Fertilizers towards promoting Green Chemistry and Circular Economy. Emphasising on the importance of innovation, Khubha mentioned that to improve current technology and R&D in the industry, it is imperative to accelerate digital transformation in chemicals & petrochemicals manufacturing process. He informed that 9 urea plants of 12.7 Lakh MT capacity each have been set up in the last 9 years and soon India is anticipated to become self-reliant in production of urea.
In his special address, Arun Baroka, Secretary, Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers, Government of India highlighted that to achieve the clarion call of “Net Zero by 2070”, the Department of Chemicals & Petrochemicals has been working diligently to unlock the tremendous potential in the sector, enhancing the technological capabilities and creating facilitative policy environment to attract global green investment. Advising the G20 Members to strengthen their sustainable journey, Baroka informed that the Petroleum, Chemical and Petrochemical Investments Regions have been set up in India and the same can also help them in their sustainable journey.
Speaking on the occasion, Ajay S Shriram, Chairman & Senior Managing Director, DCM Shriram emphasised that climate change is not only an environmental issue but it is an existential issue which has started impacting our businesses and the countries and businesses across the globe have to work together to overcome this challenge. Sharing prospects of the Indian Chemical sector, Shriram mentioned that the industry is growing at a rate of 15-20% and investments of around Rs 8 lakhs crores is expected within next 3 to 4 years.
While delivering the opening remarks, Zarir Langrana, Chairman, CII National Committee on Chemicals & Petrochemicals and ED & President, Tata Chemicals Ltd mentioned that in line with India’s B20 Agenda i.e. “R.A.I.S.E: Responsible, Accelerated, Innovative, Sustainable, Equitable Business’, today’s conference is structured to deliberate on building a strong ecosystem for the business to grow and flourish. Langrana further highlighted certain concerns of the industry including need for promoting shared facility for waste treatment, encouraging green tech adoption and promoting recycling and energy efficiency.
Nadir Godrej, CMD, Godrej Industries while addressing the delegates gave a key message that ‘Sustainably Lets Sustain’. Godrej recited a wonderful poem covering current environmental scenario, challenges being faced by industry and the need for all to come together in improving the situation.
In his closing remarks, Namitesh Roy Choudhary, Vice Chairman & Managing Director, Lanxess India emphasised that it’s a critical need of the hour to address the acute resource shortage confronting the country and that can happen only when all concerned stakeholders contribute towards a common goal and it is only then when we as country can say that we are contributing towards building a circular economy.
Who’s who of the chemicals and petrochemicals sector addressed participants in the conference which was attended by over 450 delegates. Deliberations during the conference focused around sustainability in the chemicals & petrochemicals industry; R&D, technology and digital transformation in chemicals & petrochemicals industry; and inclusive & adaptive skill for sustainable ecosystem.