IndiaChem 2008 underlines surging chemicals industry

IndiaChem 2008 underlines surging chemicals industry

The recently concluded IndiaChem 2008 exhibition and conference highlighted strategic partnerships as the key to success

Ram Vilas Paswan, Honourable Union Minister for Chemicals & Fertilisers and Steel, Government of India inaugurating India Chem 2008

The biennial ‘IndiaChem2008’, from October 20-22, 2008, jointly organised by Department of Chemicals and Petrochemicals and Department of Pharmaceuticals, Government of India and Federation of Indian Chambers of Commerce and Industry (FICCI) followed the immense success of the earlier four editions in 2000 and 2002 at New Delhi and 2004 and 2006 at Mumbai.

“The India Chem 2008” Exhibition saw leading chemical, petrochemicals and pharmaceutical companies from all over the world particularly France, China, Japan, Spain, USA, Germany, Belgium, Italy, Brazil, France, Sweden and South East Asian Nations participate both as exhibitors and visitors.

The event provided a platform to the Indian Industry to showcase its status and potential before an international audience and provided an opportunity for bilateral interaction. This was an occasion for the international industry to share thoughts and vision about future growth of industry at one platform. Ram Vilas Paswan, Honourable Union Minister for Chemicals & Fertilisers and Steel, Government of India also released the India Chem 2008 Industry Report prepared jointly by FICCI and Tata Strategic Management Group.

According to the Report, opportunities for the business are likely to develop from the growth of specialty chemicals, expected to be a $40 billion industry over the next five years. Another opportunity is the base chemicals industry achieving globally competitive manufacturing capability enabling rapid growth. The growth of contract manufacturing in the innovator space

The FICCI – Tata Strategic Management Group ‘INDIACHEM 2008’ report also highlights that the likely disruptors in the market will be advancements in nanotechnology and biotechnology, which will redefine products and markets in the Indian chemical industry.

The parallel international conference with the theme “Strategic Partnership – Key to success” with renowned national and international speakers had sessions on Chemicals, Petrochemicals, Pharmaceuticals (CRAMS), PCPIR and Plant Machinery, covering wide range of topics pertaining to current issues and opportunities.

Globally the demand for chemicals is above expectations. With the current annual turnover of around $40 billion, it has emerged as a significant contributor to the economy in recent years and is now increasingly becoming a knowledge based industry.

The Government of India is committed to providing comprehensive infrastructure to the industry. In this context, Government of India has approved the policy for setting up Petroleum, Chemical and Petrochemical Investment Regions. PCPIR is a specifically delineated investment region having an area of about 250 sq kms which comprises of production projects, public utilities, logistics, environmental protection, residential areas and administrative services. Six applications from the states of Andhra Pradesh, Gujarat, West Bengal, Karnataka, Orrisa and Tamil Nadu have been received. Of these, the proposals of Andhra Pradesh, Gujarat and West Bengal are at an advanced stage of consideration. The three day mega event concluded with the Valedictory Address by B K Handique, Honourable Minister of State for Chemicals, Fertilisers and Mines, Government of India.