R&D 'Mantra' for future of chemical industry: Modi

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SME Times News Bureau | 26 Oct, 2012
Inaugurating 'India Chem Gujarat 2013' at a glittering function held at Gandhinagar Friday, Chief Minister of Gujarat, Narendra Modi exhorted the chemical industry to increase the Indian share in the global chemical sector from present 3 percent, while taking due care of the environmental concerns as also that of society at large, with appropriate usage of good environmental technologies and research.

In this context he gave example of age old tradition of using vegetable based environment friendly dyes in Patola sarees.

Lying a road map for the growth of this sector which plays the role of facilitator for other sectors of economy, he suggested for giving focus to R&D and Innovations with increased spend on R&D as also to adoption of cluster approach with linkage to skill development.

He also advised the industry to give due attention to possibility of industries based on waste recycling and to attempt value addition in items like castor oil, for which Gujarat accounts for 85 percent of national production and is getting exported for value addition elsewhere.

Modi highlighted the critical role being played by the chemical industry in national development. He promised the sector complete help from his Government in Gujarat.

Before that Saurabh Patel, Minister for Petrochemicals, Govt of Gujarat informed that while new manufacturing policy of the Govt. of India aims to increase the share of manufacturing from to 16 percent to 25 percent of GDP by 2025, Gujarat has already reached the level of 27.2 percent and will reach 32 percent by 2017.

Specialty Chemicals is the fastest growing segment in the chemical industry. These are high value, low volume chemicals known for their end-use applications and/or has performance enhancing properties. There is immense potential for increasing consumption within the country and make India a reliable exporter of quality chemicals.

Indrajit Pal, Secretary, Department of Chemicals and Petrochemicals, Govt. of India; while appreciating the contribution of chemical industry, emphasized for the need to ensure that the industry grows in a sustainable manner, with due regard to environmental concerns.

He also explained the PCPIR policy which is being implemented to facilitate the sector.

Deepak C. Mehta, Chairman FICCI Chemical Industry Committee and Vice-Chairman & Managing Director, Deepak Nitrite, highlighted the important role being played by the event, to place the specialty chemical sector in proper global perspective and project India as a manufacturing hub of quality chemicals.

Dr. Arbind Prasad, Director General, FICCI highlighted the important role being played by the chemical industry in day-to-day life. The sector which has immense potential for growth needs significant investments in capacity creation, higher R&D spends and a large pool of skilled manpower for sustainable growth.

The three-day 'India Chem Gujarat 2013', is a composite event, which includes an international exhibition, a conference and a reverse buyer-seller meet as also a conclave of captains of the chemical industry.

This event is jointly organized by the Department of Chemicals & Petrochemicals, Government of India, iNDEXTb, Government of Gujarat, Federation of Indian Chambers of Commerce and Industry (FICCI) and Chemexcil (Chemicals Export Promotion Council), promoted by the Department of Commerce, Government of India).

The international exhibition which will go on till 26th October has more than 150 exhibitors with 12 international exhibitors including those from China, France and Germany. More than 5000 business delegates are expected to visit the exhibition, resulting in business deals for the Indian Chemical industry.