Chemical Industry Could Be the Catalyst for ‘Make in India’ Movement

Recently, the Confederation of Indian Industries(CII) organised a conference namely Championing Manufacturing in India.

Sharing his views, Mr Samir Kumar Biswas, Joint Secretary, Dept. of Chemicals & Petrochemicals (Ministry of Chemicals & Fertilizers), said that while Indian Industry is growing, the chemical industry needs to grow faster. Chemicals being one of the important components in various industries, the industry is going through a volatile phase. He also welcomed the Industry to come up with specific policy recommendations and stated that the Government is open to implement new initiatives to create a better ecosystem for the industry.

Environment regulations are critical for Chemical industry as “Zero Defect and Zero Effect” is the focus of the Government thus ease of compliance is the need of the hour, said Mr Nadir B Godrej, MD, Godrej Industries Ltd. Panelists emphasized that PCPIR – Petroleum, Chemicals, Petrochemicals Investment Region can emerge as the engine for growth for the Indian Chemical Industry to become globally competitive. While innovation in terms of product and process are important to meet the domestic and international market, India has the potential to excel in Speciality chemicals.  With increased focus on Research & Development, India can excel in Speciality chemicals which are customized.

Mr Zarir Langrana, COO – Chemicals, TATA Chemicals Ltd emphasized the need to focus on set of practices for the Chemical Industry and incorporate with the ‘Make in India’ initiative of Indian Government. He mentioned that chemicals have a wide footprint of cascading growth across industries. He insisted on the urgent need of Single Window Clearance for the approval process for Chemical Industry to grow and become competitive. Availability of feedstock and skilled manpower are two other critical issues which needs attention.

“While India has the wherewithal and technology for higher order products and markets, limited feedstock availability is coming in the way of it achieving its full potential”, opined Dr Raman Ramachandran, CMD, BASF India Ltd and Head, BASF, South Asia.

Panelists reflected on the impact of the emerging FTAs which were already hitting the domestic industry hard, which is expected to get accentuated in the more liberalized tariff regime.