Indian chemicals industry should explore global frontiers: Ananth Kumar

Indian chemical industry should explore joint ventures and acquire assets in the oil and gas rich regions overseas to meet their requirements of feedstock and compete on a global scale, according to Ananth Kumar, Union Minister for Chemicals and Fertilizers. Stating this in his inauguration speech at Indian Chem 2014 in Mumbai yesterday, he added that Government of India will take all the necessary steps to boost the confidence of the industry and provide conducive environment for chemical industry to flourish in India.
 
The theme of this year’s India Chem is ‘Spurting the growth of Indian chemical & petrochemical chemical industry’. The chemical and petrochemical industry is at the threshold of sustainable growth with the Government of India providing a framework of support and encouragement. Ananth Kumar said, “One of the most important objectives behind organising the India Chem series is to highlight the manufacturing possibilities in the country's chemical industry. This event provides an excellent opportunity for the Indian chemical Industry to showcase its capabilities and strengths to the world chemical community."
 
Ghomalreza Ansari, Iranian Ambassador to India; Deepak Mehta, Chairman FICCI Chemical Committee; Dr B R Gaikwad, Vice Chairman, Chemexcil; Nikhil Meswani, ED, Reliance Industries Ltd; Yoshihiro Umeha, Member of Board & Managing Executive Officer, Mitsubishi Chemical Corporation and Surjit Chaudhary Secretary, Department of Chemicals & Petrochemicals, GoI, were also present on the occasion.
 
Mehta said, "The ‘Make in India’ campaign will have tremendous influence on encouraging global and Indian companies to invest in the country. We are confident that Indian chemical industry has the potential to double its size in next ten years with the right support from the government.”
 
He added, “Green chemistry is crucial to increase the export growth so that we can steadily increase our share in the global chemical market. Through various efforts, the industry is incorporating technologies and process that lead the country to the goal of being a leader of chemical exports.”
 
According to Meswani, for India to become fifth largest player in the global chemical industry, emphasis should be given on skill development especially in the downstream industries.
 
India Chem, jointly orgainsed by the Department of Chemicals and Petrochemicals, Government of India, and Federation of Indian Chambers of Commerce and Industry (FICCI), is considered to be one of the leading exhibitions in India for chemicals and petrochemical industry. Besides showcasing the strength of chemicals and petrochemical industry, the event is a crucial platform for networking, exchange of ideas, creating awareness of new products & technologies, and exploration of possibilities for enhancement of trade.
 
Leading companies from all over the world particularly from China, Taiwan, Germany, Iran, Middle East, Singapore, Vietnam Italy, Switzerland, Japan, Russia, USA, and South East Asian countries are participating both as exhibitors and visitors. The event would also play host to a galaxy of eminent speakers and leaders from India and abroad.