Gujarat Chemicals Association (GCA) expects investments in the chemicals, petrochemicals and pharmaceuticals sector to touch Rs15,000 crore in the upcoming Vibrant Gujarat Summit in January 2011. The sector had seen signing of 31 memorandums of understanding(MoU) with investment commitments worth Rs 13,412 crore in the last Vibrant Summit in 2009.
Jaimin Vasa, president, GCA said, "We expect a good overall growth in investment flow in 2011 Vibrant Summit, and as far as the chemicals, petrochemicals and pharmaceuticals sector is concerned, investment commitments could well touch around Rs15,000 crore this time". He added that most of the projects committed during the last Vibrant Summit are gradually coming into action now. Moreover, the GCA is all set to start a Halp Desk at the Gujarat Chamber of Commerce and Industries(GCCI) premises from December 18 to help the micro,small and medium enterprises (MSMEs) in the sector.
"The Help Desk will operate in association with the ministry of MSMEs, government of India, and will educate the small scale units about the various government schemes that they can avail to promote their business. It will basically be a hand-holding exercise to help MSMEs achieve faster growth in their businesses", Vasa explained. Also, the association plans to propose to evolve a special package for the MSME sector that will focus on 'made in Gujarat' branding. "We want to promote 'made in Gujarat' as a brand for the small-scale chemical and petrochemical manufacturing units in the state as a mark of quality. We had first proposed this during the Asian Chemical Leaders' Summit in 2008 highlighting the strength of Gujarat in manufacturing quality products maintaining high standards of production", Vasa told Business Standard. GCA is organising the Global Chemical Leaders Summit(GCLS) on December 17 and 18 this year with the theme of Global Competitiveness:Gujarat Perspective. GCLS 2010 would focus on areas like chemicals, petrochemicals, agrochemicals, dyestuff and speciality chemicals, and expects to attract at least 3,000 delegates and over 150 exhibitors from countries like China, Korea, Taiwan,UK,US as well as neighbouring countries like Bangladesh,Nepal among others. Gujarat contributes to nearly 62 per cent of the country's petrochemical production, 51 per cent of chemical production and 45 and 42 per cent of pharmaceutical and dyestuff production.