The Indian Chemicals & Petrochemicals Industry is growing rapidly

The Indian Chemicals & Petrochemicals Industry is growing rapidly due to the positive reforms undertaken by the Government of India in recent years and atmosphere of encouragement. Chemical industry in India is a diversified industry, covering about 70,000 commercial products. It provides key building blocks to a host of downstream industries such as automobiles, textiles, papers, paints, soaps, detergents, pharmaceuticals among many others. It is a capital-intensive industry which employs approx. 2 Mn people in India. The estimated size of the Indian chemical sector stands at approx. USD 160 billion, 100% FDI in this sector is permitted under the automatic approval route and the manufacturing of most of the chemical products is de-licensed except for a few hazardous chemicals. The sector has a potential to be USD 384 Billion market by 2025 and promises strong growth across the value-chain.

In pursuance to the vision of Make in India and to provide impetus to the growth of the sector, Federation of Indian Chambers of Commerce and Industry (FICCI) and Department of Chemicals and Petrochemicals, Government of India are organizing the 10th biennial edition of India Chem, from 04 – 06 October 2018 at Bombay Exhibition Centre, NSE Complex, Goregaon, Mumbai, India with the theme “Chemicals and Petrochemicals- Advantage India”. India-Chem is one of the largest event of Chemicals and Petrochemicals industry in Asia—pacific region. Foundation of the successful journey was laid in the year 2000 and was inaugurated by then Hon’ble Prime Minister Late Shri Atal Bihari Vajpayee. Over the years, it has gained enormous popularity and established itself as an internationally recognised event.

To promote Chemical and Petrochemical sector in India and India Chem 2018; Department of Chemicals and Petrochemicals, Govt. of India organized an Industry meet in Kolkata, West Bengal. The meeting was presided by Shri P. Raghavendra Rao, Secretary, Department of Chemicals and Petrochemicals, Government of India in the presence of Dr. S. Kishore, IAS, Principal Secretary, Industry, Commerce & Enterprises Dept. Govt. of West Bengal, Shri Samir Kumar Biswas, IAS, Joint Secretary, Department of Chemicals and Petrochemicals, Government of India, Shri P Kamalakanth, lFS, Executive Director-WBIDC, Mr. Subhasendu Chatterjee, Whole Time Director, Haldia Petrochemicals Limited, Mr. Harish Agarwal, Co-Chairman, FICCI – WBSC & Partner, Ernst & Young LLP and Mr. Alok Tibrewala, President, Indian Plastics Federation, Director, Swastik Polymers Pvt. Ltd. and Industry captains.

The meet was organized to provide a vantage platform to interact with the Secretary, Department of Chemicals and Petrochemicals and senior officials from the State Government and discuss the progress being made in the preparations for combined National Chemical and Petrochemical Policy, India Chem 2018 – the International Exhibition & Conference, Plastic Park and Petroleum Chemicals and Petrochemicals Investment Region (PCPIR).

The meet received an overwhelming response from the Industry and large presence of national and local media was a testimony to its success.