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India Chem 2010 all set to begin in Mumbai

Our News BureauMumbai

The largest event of the Chemical and Petrochemical Industry in India India Chem 2010 is in its sixth edition, in Mumbai from 28th-30th October 2010. It is organised by Department of Chemical and Petrochemicals, Government of India and Federation of Indian Chambers of Commerce and Industry (FICCI). The Indian chemical, petrochemical and pharmaceutical industry is one of the fastest growing sectors in the economy. With a size of over $40 billion it accounts for 15 percent of the country’s total industrial production and 14 percent of the total exports from the Indian manufacturing sector. Growing at an average rate of 12.5 percent, this industry offers a wide spectrum of opportunities for the investors both from India and abroad. India has the third largest pool of scientific and technical manpower with excellent engineering and project management skills. Over the last decade, India has successfully emerged as one of the fastest developing economies around the globe. Spread over 3.29 million sq. kms. with diverse climatic conditions and rich reserves of natural resources, India offers wide spectrum of opportunities.

India’s global ranking in terms of GDP – on a purchasing power parity basis – has shot up from eight position in 1991 to fourth position in 2001. GDP growth is targeted to grow at an annual average rate of eight percent during 2007-15.

India Chem 2010 offers a host of business opportunities to exhibitors to showcase the latest products, machinery, equipment and developments in the industry for test marketing and generating business, transfer of technology, investment and joint ventures, setting up R&D base in India, supply of plant, machinery, process control equipment, projects and services etc. Sourcing requirements from India, technology adaptation and up gradation business tie-ups and collaborations and one to one business meetings and networking opportunities.

The process of economic reforms initiated in 1991 has made the Indian policies focused on attracting capital from abroad and making India a global industrial base. The resultant inflow of foreign direct investment and technology transfers have created an environment for dynamic growth and increased competitiveness of Indian industry.

The huge market potential coupled with the existing pool of human resources and the wide variety of resources in the country make India indeed the destination in the new millennium.