Bhubaneswar, September 6: Odisha, with its skilled manpower and strategic coastal location, is poised to become a major hub for chemicals and petrochemicals, offering vast opportunities for manufacturing, employment, and exports, said Union Minister of State for Chemicals and Fertilizers, Anupriya Patel here on Friday.
The Union Minister was speaking at the Industry Conference on India Chem 2024: 13th Biennial International Exhibition and Conference, organised by the Department of Chemicals and Petrochemicals, under the Ministry of Chemicals and Fertilizers, in partnership with FICCI.
Themed “Advanced India: Indian Chemicals and Petrochemicals Paving the Future,” the conference spotlighted the upcoming IndiaChem 2024 summit, scheduled to take place in Mumbai from October 17-19, 2024.
Union Minister Patel highlighted the pivotal roles of Gujarat, Odisha, and Andhra Pradesh in the chemicals and petrochemicals sector.
“IndiaChem 2024, returning after a two-year hiatus, is expected to attract significant global participation. Odisha, with its skilled manpower and strategic coastal location, is poised to become a major hub for chemicals and petrochemicals, offering vast opportunities for manufacturing, employment, and exports. The sector, currently valued at USD 220 billion, is projected to surpass $1 trillion by 2047. The government’s focus on boosting intra-country manufacturing and reducing import dependence will further propel this growth,” said Patel.
State Industries, Skill Development and Technical Education Minister Sampad Charan Swain highlighted the transformative impact of the State’s industrial policies and incentives on the petrochemicals sector.
Nivedita Shukla Verma, Secretary, Ministry of Health and Family Welfare and Chemicals and Fertilizers, Government of India, elaborated on the significance of the petroleum sector, which contributes 8% to the nation’s manufacturing and 3% to global sales. The sector, currently estimated at $320 billion, is one of the fastest-growing markets worldwide, with expectations to reach $1 trillion by 2047.
Deepankar Aron, Joint Secretary, Ministry of Health and Family Welfare and Ministry of Chemicals and Fertilizers focused on insights into IndiaChem 2024, which will feature over 200 companies and attract more than 7,000 visitors. The event will include B2B and B2G meetings, a Global CEO Forum, and roundtable discussions with representatives from countries like Japan, Korea, Brazil, Argentina, and the UAE. Notably, over 40 organizations and industry associations from Odisha will participate, and a job fair will be organized for the first time.
Chief Secretary Manoj Ahuja, Arvindar Singh Sawhney, Co-Chairman of the National Petrochemicals Committee of FICCI, Pankaj Satija, Chairman, FICCI Odisha also spoke.
The India Chem 2024 Summit, to be held at the Bombay Exhibition Centre, Mumbai, will feature companies from chemicals, petrochemicals, technology, process plant machines, and control and automation systems. The Government of India plans to expand its petroleum and petrochemicals investment zone policy during the summit. Applications for the FICCI Chemicals and Petrochemicals Awards 2024 are now open, with selections to be submitted by September 20, 2024.
