Ananth Kumar launches India Chem 2014 in Mumbai; says India has potential to become top chemical exporter

 Union Minister for Chemicals & Fertilizers Mr. Ananth Kumar today said that India has an immense potential to become one of the top 5 countries in the chemical and petrochemical industry.  Speaking after announcing the launch of India Chem 2014 International Conference in Mumbai, Mr. Kumar said the chemical industry is the backbone of the country and by adopting forward looking policies and following right approach, it can aspire to rub shoulders with the likes of China, Japan, Germany and USA.

Addressing the leaders of the chemical industry, Mr. Ananth Kumar said his government is readying a policy framework to boost growth in the chemical-petrochemical sector.  “The philosophy of the new government is that it should not function merely as a regulator,  but should act as a facilitator” the Minister said, laying stress on greater government – industry collaboration.  He hoped that the upcoming budget would have certain incentives for the chemical industry, as recommended by his ministry.

Mr Ananth Kumar also said that his ministry has proposed a plan to establish reverse SEZs in Iran and Myanmar, from where Indian chemical industry can source its materials in a cost-effective manner. “We are writing to the Ministry of External Affairs soon and will be taking up the matters with the respective governments to establish reverse SEZs which will prove to be a win-win situation” he added.

Mr. Kumar said the Government has set up specially delineated investment regions in the form of PCPIRs (Petroleum, Chemicals & Petrochemicals Investment Regions) at Dahej, Gujarat,  Vishakhapatnam and Kakinada in Andhra,  Paradip in Orissa and Cuddalore and Nagapattinam in Tamilnadu. He said steering committees are being formed to accelerate the implementation.  The Minister also called upon the industry leaders to focus on exporting finished products and specialty chemicals, moving away from the present composition of commodities and building blocks.

The Minister further said that his government will take decisions purely based on national interest. “While a fair margin of profit is understandable, the projects proposed should also benefit the society and the nation at large by way of generating employment, reducing pollution and contributing to the growth of the economy” he added.

The Minister stressed on the need for companies in the sector to strictly comply with environmental norms for sustainable growth.  He also said, the Indian companies should invest more in Research & Development, especially in developing green technologies to reduce environmental pollution.

Speaking about the event -India Chem 2014, Mr. Ananth Kumar said  “India Chem is an important platform for networking, exchange of ideas, creation of awareness of new products & technologies, and exploration of possibilities for enhancement of trade”.  The International Conference-cum-Exhibition will be held in Mumbai from October 9-11.  The focus of this year’s event will be on growth with emphasis on sustainability and green chemistry.  The event will be organized jointly by the Department of  Chemicals and Petrochemicals and FICCI.