The Indian Chemical industry has become a global player and earns foreign exchange for the nation with the “Make in India, Make for World” approach: Dr Mansukh Mandaviya
Union Minister for Chemicals & Fertilizers and Health & Family Welfare, Dr Mansukh Mandaviya launched Plastindia 2023-11th International Plastic Exhibition & Conference in the presence of Union Minister of State for Chemicals & Fertilizers and MNRE, Shri Bhagwanth Khuba. Senior officials of the Ministry of Chemicals & Fertilizers and industry representatives were also present at the meeting.
Addressing the event, Dr Mansukh Mandaviya stated that “these exhibitions are important because they will attract international plastic players to the country and provide a platform to learn and exchange ideas and technology”.He noted that the government is not only pro-poor but also industry-friendly as industrial growth promotes wealth creation and is important for generating employment and Nation building.
The Union minister highlighted that “India’s Petrochemical Industries has been one of the fastest-growing industries in the Indian economy with high demand growth. India is projected to contribute more than 10% of the incremental global growth in Petrochemicals over the next decades”. However, amidst the Petrochemical growth globally, volatility, significant Import dependency and attractive demand growth have been the primary reasons for which India needs Petrochemical assets to meet the domestic and global demand, he added.
“Govt is not only pro-poor but also industry-friendly since industrialists are wealth creators and are important for nation-building”: Dr Mandaviya
The Union Minister further stressed that although import dependency of the country has reduced, there is a need for a holistic approach to creating an atmosphere for the industrialists to be able to compete globally. He suggested the need to create a roadmap for the plastic industry for long term policy support, investment as well as export promotion.
Highlighting the achievements of the Chemicals sector in the country, the Union Minister said that today Indian Chemical industry has become a global player and earns foreign exchange for the nation with the “Make in India, Make for World” approach. Exports of Indian Chemicals have registered growth of 106% in 2021-22 over 2013-14. This export growth in the chemical sector would be a boost to our Hon’ble Prime Minister, Shri Narendra Modi Ji’s Atma Nirbhar Bharat Abhiyan
From a green growth perspective, an interdisciplinary approach is needed throughout the value chain from primary chemical and plastic production to waste management, the Union Minister said. Reducing reliance on single-use plastics other than for essential non-substitutable functions, improving waste management practice and raising consumer awareness about the multiple benefits of recycling are the solutions to the plastic waste problem and help in achieving a sustainable future.
Demographic dividends, increasing export demand and enabling Government initiatives are the key growth drivers for the Indian chemical and petrochemicals industry: Shri. Bhagwant Khuba
The petrochemicals industry should develop a strategy to reduce high carbon footprint, and ocean pollution and focus on adopting green technologies to achieve net-zero emissions by 2070 to realise the vision of our Hon’ble Prime Minister of Panchamrit, he added.
Speaking on the occasion, Shri Bhagwanth Khuba stated that Demographic dividends, increasing export demand and enabling Government initiatives are the key growth drivers for the Indian chemical and petrochemicals industry. Attractive business opportunities are present in different segments, including petrochemical intermediates, downstream petrochemicals, packaging and specialty chemicals. The Indian government is supporting the plastic industry by developing a common infrastructure for all industries. He highlighted the setting up of 10 plastic parks as well the Plastic Export Promotion Council, as proof of the government’s commitment to developing this sector.
About PLASTINDIA 2023:
PLASTINDIA refers to a series of exhibitions under the Plastindia Foundation, which will hold the 11th International Plastics Exhibition, Conference and Convention from 1st-5th February 2023 at ITPO Pragati Maidan, New Delhi. The exhibition will provide opportunities for employment generation, facilitate the growth of the Indian plastic industry and make India a hub for sourcing plastic for global needs.
PLASTINDIA 2023 will showcase India as the global hub for sourcing processed items related to Plastics, Raw materials, Machinery and products for use in all segments of human life. As Business is becoming globalized, the Government is aware of the needs of Industry, and is now playing a facilitating role as compared to a regulatory role played a few years ago and is supporting Industry to become globally competitive.
Disclaimer : This is an official press release by PIB.