Making efforts to set up chemical parks to meet domestic demand: Mandaviya

Chemicals and Fertilisers minister Mansukh Mandaviya on Wednesday stressed on the need to bring innovations in the chemicals sector and said the government is making efforts to set up chemical parks to meet a rising domestic demand.

The minister was virtually addressing an international conference on Chemicals & Petrochemicals, organised by industry body CII in association with the Department of Chemicals and Petrochemicals, Ministry of Chemicals & Fertilizers.

"To meet the rising domestic demand, the government of India is striving towards establishing the global state-of-art chemicals parks with all necessary plug and play facilities by providing a sustainable ecosystem to the industries," Mandaviya said.

The chemical industry is a critical and integral part of growing Indian economy, he said, adding that there is an immense growth potential of this sector.

Mandaviya highlighted the need to bring innovation across all the segments of the chemical and petrochemical industry to design and develop new chemicals and production processes.

He assured the industry of full support in building a conducive ecosystem for the sustainable chemicals industry.

The minister said the Modi government is addressing the basic issues concerning the sector in a mission mode.

According to a CII statement, Mandaviya further mentioned that to meet the skilling requirement of the industry, the ministry is committed to skill 1.2 lakh person per annum in this sector.

He pointed out the four priority areas that will prove transformative for the industry -- digital economy, education, energy transitions and environment & climate sustainability.

Bhagwanth Khuba, Minister of State for Chemicals & Fertilizers, highlighted the various initiatives being taken to promote green chemistry and circular economy.

Emphasising on the importance of innovation, he said it is imperative to accelerate digital transformation in chemicals & petrochemicals manufacturing process.

To achieve 'Net Zero by 2070', Chemicals & Petrochemicals Secretary Arun Baroka underlined that the department 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.

Ajay S Shriram, Chairman and Senior Managing Director of 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.

Shriram mentioned that the industry is growing at a rate of 15-20 per cent and investments of around Rs 8 lakh crore is expected within next 3 to 4 years, the statement said.