Integrated approach imperative for developing speciality chemicals sector: CII

A seminar on Indian specialty chemicals, organised by the Confederation of Indian Industry (CII) organised in Mumbai on 13 September, emphasised on the need to have integrated approach to develop the speciality chemicals sector and to improve the transport infrastructure for potentially hazardous chemicals. Speaking at the function, Indrajit Pal, Secretary, Department of Chemicals & Petrochemicals, Ministry of Chemicals & Fertilizers, assured the audience of extending full support for the cause of chemical industry. In addition, he highlighted on the steps taken by the government to give a boost to the Indian chemical industry.

Pal also released the CII report on ‘Key feedstock for speciality chemicals’. The report examines in detail ten key raw materials for the speciality chemicals industry that are of critical importance to domestic industry and have large market size. It also outlines the path to realise the existing potential by identifying key areas of concern and provides concrete measures to overcome them.

Nadir Godrej, Chairman, CII National Committee on Chemicals, and MD, Godrej Industries Ltd, said, “The Indian speciality chemicals sector has demonstrated a high growth in recent past and is poised to drive India’s chemical industry.” In the context of sustainability and profitability of business of speciality chemicals, Godrej mentioned that the pricing of the products and availability of basic raw materials will hold the key to remain competitive and successfully tap this large market.

Detailing the role of standards in the industry, Alka Panda, Additional Director General, Bureau of Indian Standards, said that, “Strong standards are essential to ensure safety and protect the environment while propelling the sector.” Dr Joerg Strassburger, MD & Country Representative LANXESS India Pvt Ltd, mentioned, “Formulating proper standards for the speciality chemicals industry is important to ensure efficiency, quality in the industry.”

Speaking on ethylene oxide (EO), one of the key raw materials for speciality chemicals, Sidhartha Mitra, Executive Director (Petrochemicals), Indian Oil Corporation Ltd (IOC), said that, “There is wide gap in the domestic demand and supply of EO which is expected to further widen in the future if more capacities are not created.”