ChemAnalyst Participates in India Chem 2021
- Journalist: Robert Hume
ChemAnalyst has remarked its presence at the 11th edition of the mega event “India Chem 2021”, organized by the Department of Chemicals and Petrochemicals, in association with FICCI. The three-day event which begun yesterday, 17th March was inaugurated by the Sir D.V. Sadananda Gowda, Union Minister of Chemicals and Fertilizers at Hotel Taj Palace, New Delhi.
Some of the prestigious events present in its itinerary- are Conclave of Global Chemical Industry, Global CEOs Round Table, Conclave on Global Chemical Industry, Conclave of Global Petrochemical Industry which will be in collaboration with GCC along with Plant Machinery, Valves and Pumps Processes Roundtable. On Friday, India-US Chemical and Petrochemical Forum, India-Japan Chemical and Petrochemical Forum and India-EU Chemical and Petrochemical Forum will be the highlights which are aimed at enhancing the bilateral trade and investment opportunities in the India chemical and petrochemical sector.
As the government is keenly focused towards making India the “next global manufacturing hub” by increasing investment in its core sectors, several growth opportunities are expected in the Indian chemical and petrochemical sector in the next five years. In line with Government’s PIL Scheme and “Atmanirbhar Campaign”, India Chem on the first day of event, showcased that there exists enormous potential for new players to emerge in the market due to the planned increase in downstream aromatics and polymers capacities amidst their robust local demand.
Several key moves were revealed by the Indian ministers to facilitate growth of the Indian chemical industry on Day 1 of the event. These included the idea of increasing custom duty over Bisphenol A (BPA), Epichlorohydrin (ECH) and Polycarbonates imports to provoke the exploration of new Phenol integrated projects. The government has also shown interest on investing in Styrene integrated projects in the coming years as India is totally dependent on imports of this chemical. Potential scope of technological tie-up in the entire values chain of Acetic Acid was also underlined due to the presence of limited players in the domestic market.
Since the vision requires the presence of a global research and analysis database that can serve with upbeat and accurate information, ChemAnalyst under the parent company TechSci Research is the perfect pitch for India. As ChemAnalyst actively keeps a ground check on the entire value chain of chemicals and provides benchmark prices for over 250 chemicals in more than 12 countries worldwide, it is a desired tool for all the players to evaluate the demand and supply gap through the real time and forecast analysis.
India Chem is regarded as the master of all composite chemical and petrochemical events in the Asia Pacific region. The 2021 India Chem holds the theme ‘India: Global Manufacturing Hub for Chemicals and Petrochemicals’. The event is organized with an aim to provide a platform for the native as well as international investors to enhance their reach by interacting with the forge alliances. Besides, it is also aiming to highlight tremendous potential and various government policies that could support the steep growth in the petrochemical sector.