Prez opens India Chem 2012

Mumbai, Oct 4 (IANS) President Pranab Mukherjee Thursday called on the Indian chemical industry to promote sustainable development by investing in green technologies.

Speaking in Mumbai, after inaugurating the India Chem 2012, Mukherjee said the industry must ensure increased adherence to safety and international health and environmental standards.

"Indian chemical industry would need to set targets and standards and take up research and collaborations without delay," the president said.

Mukherjee said the chemical and petrochemical industry has a very important role to play in increasing the share of manufacturing from the present level of 16 percent to 25 percent, as per the National Manufacturing Policy.

He said the National Chemical Policy is currently under preparation and will include measures to facilitate this.

Mukherjee pointed out that with Asia’s share in the global chemical industry increasing from 31 percent to 45 percent, India has emerged as one of the focus destinations for chemical companies worldwide.

The Indian chemical industry, currently valued at $108 billion accounts for only three percent share of the global market.

"This is a very good reason for the policy makers and the industry to take the lead and prepare a roadmap," Mukherjee said, calling upon the industry to increase its spend on Research and Development from the current level of 1-2 percent to 5-6 percent of the annual turnover.

The three-day conference is jointly organised by the Department of Chemicals and Petrochemicals and the Federation of Indian Chamber of Commerce and Industry (FICCI).

In its seventh edition, the conference is organised every alternate year.

India Chem 2012 will focus on clean coal technologies, opportunities in PCPIR (Petroleum, Chemicals and Petrochemicals Investment Region) regions, growth and investment opportunities in upstream and downstream petrochemicals.

Japan is the country partner of the conference, while Gujarat, Andhra Pradesh and Odisha are the state partners.

Maharashtra Governor K. Sankaranarayanan, Chief Minister Prithviraj Chavan, union Minister for Chemicals and Petrochemicals M.K. Alagiri, Minister of State Shrikant Jena, and Chemicals and Petrochemicals secretary K. Jose Cyriac were among those present at the event.