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approximately Rs 2,627 billion during FY 2017, reflecting a huge gap in the sector.
The Report will be released during the Indian Chemical & Petrochemical Conference( ICPC) 2018: Vision 2040 conference on September 4 in New Delhi.
The report also touch base on the need for an integrated petro-chemical and specialty chemicals master plan that will help to capture the offtake requirements of downstream units of the Petroleum, Chemicals and Petrochemicals Investment Region( PCPIRs).
Though the per capita consumption of chemicals in India is amongst thae lowest in the world, there is enormous potential for demand for selective manufacture to grow, under the Make in India Campaign.
For instance, the per capita consumption of dyes in India is 50 grams as compared to 400 grams in Europe and 300 grams in Japan. Likewise, the per capita consumption of colorants in India is a mere 50 grams vis-à-vis the world average of 250 grams. Plastics and organic chemicals could also be interesting categories, with strong latent demand stemming from the flexible packaging industry.
Taking on these situations, the Indian Chemical and Petrochemical Conference( ICPC) 2018: Vision 2040 conference will bring together leaders from across the chemical value chain, to deliberate upon sector’ s key challenges and set aspirations for building a robust policy framework.
CII, in partnership with Department of Chemicals and Petrochemicals, is taking the lead to host the ICPC 2018: Vision 2040 conference, on 5th September 2018, at Hyatt Regency, New Delhi.
The conference will address matters relating to need for a conducive regulatory framework, environmental issues and steps towards achieving 2X growth in exports. CII has been an influential factor in supporting the developmental of several positive policies for the chemical.
Taking this forward, the ICPC policy forum presents a unique opportunity for the Industry to share the platform with the representatives from the government and put forth their concerns. Shri P Raghavendra Rao, Secretary, Department of Chemicals & Petro-Chemicals will steer the policy discussions, which will be joined by noted policy makers and key officials from government, industry and academia. Stalwarts from leading chemical industries and public-sector including BASF India Ltd, Dow Chemical International Ltd, Lanxess India Ltd, Sabic, TATA Chemicals Ltd, Chemplast Sanmar, Thirumalai Chemicals Ltd, Covestro India will address in the policy advocacy conference.
Raman Ramachandran, Chairman – CII National Committee on Chemicals & Petrochemicals; CMD- BASF India Limited & Head- BASF South Asia, said,“ As India awaits the National Chemical Policy, this year’ s conference gains significance. The chemical industry is one of the oldest in the country and has aided the growth of the Indian economy to become one of the strongest globally. We hope to deliberate on robust policies for the chemical industry at this conference. This will help India in promoting safety and security of the chemical industry and enable the sector to be at par with global compatriots.”
“ Today, stakeholders are aligning with companies making sustainable advancements that reduce impact on environment and climate change. Our framework thus will pave the way for focused statutory regulations for the chemical industry”, he further added.
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august-september 2018 | Global MDA Journal | 49