The Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers and Indian Chemical Council (ICC) organizing the two days Conclave with the theme of “Integrating Sustainability & Business Strategy for the Chemical Industry- Addressing Challenges and Opportunities”.
Union Minister of State for Chemicals and Fertilizers and New and Renewable Energy, Shri Bhagwanth Khuba, Minister for Industries, Energy, and MSME, Government of Odisha Shri Pratap Keshari Deb, Secretary Department of Chemicals and Petrochemicals, Ms Nivedita Shukla Verma and senior officials of the Ministry of Chemicals and Fertilizers, Officials from ICC and champions of the Industries were present on the occasion.
Addressing the event, Shri Bhagwanth Khuba said that Chemical and Petrochemical Industry holds a pivotal position in our economy serving as a backbone for numerous sectors offering a diverse range of over 80000 commercial products. While the government has commendably taken steps to reduce our reliance on imports, enhance infrastructure, and improve the business environment, it is imperative that we infuse a strong focus on chemical sustainability into this narrative of growth. With our Industry posed to grow from its current value of approximately USD 215 bn to an estimated USD 300 bn by 2025, it is crucial that this growth is accompanied by an unwavering commitment to sustainable development.
Shri Khuba further stated that he envisions the chemical sector growing sustainably, reducing carbon emissions, and making a positive contribution to the environment. He also expresses hope that the industry maintains its growth and continues to be a significant contributor to the Indian economy.
On this occasion, Secretary, Department of Chemicals and Petrochemicals, Ms Nivedita Shukla Verma said that with the objective of Make in India and Make for the World, Govt of India with its ‘whole of government’ approach is making all-out efforts to promote manufacturing in our all the sectors. She further stated that our department is actively engaged in the promotion of the chemicals industry and enhancing the ease of doing business whenever required. As we aim to provide a secure and reliable industrial ecosystem in the world, the chemical sector in India holds immense potential for expansion. With its natural advantages, India is an attractive place for investment and this is borne out by the fact that about 90% of the growth has been recorded in FDI in the chemical sector in 2021-22.
This is a major initiative of the Indian Chemical Industry for encouraging sustainability in the management of the entire life cycle of chemicals. Environment Resource Management (ERM), a globally renowned entity in the sector, is the Knowledge Partner for the Conclave.
ICC Sustainability Conclave holds immense significance in light of India’s international commitments to address climate change, decrease carbon footprints, increase renewable energy utilization, and encourage sustainable corporate practices. The two-day event will bring together senior representatives from Indian and Global companies, government officers, multilateral organizations, chemical industry bodies, and academic experts to discuss trending issues and opportunities, including ESG strategies, de-carbonization, net-zero transition, digital transformation, green growth, cleaner energy, safety promotion, and product stewardship beyond regulations.