Odisha Hosts Industry Meet Ahead of ‘India Chem 2024’ Summit

Bhubaneswar: The Department of Chemicals and Petrochemicals, under the Ministry of Chemicals and Fertilizers, Government of India, in collaboration with FICCI, successfully organized an industry meet in Bhubaneswar to promote the upcoming India Chem 2024 summit. The international exhibition and conference, themed “Advanced India: Indian Chemicals and Petrochemicals Paving the Future”, will take place in Mumbai from October 17-19, 2024.

The event in Bhubaneswar saw prominent leaders from the chemicals and petrochemicals sector highlight the potential and opportunities in Odisha, alongside discussions about the upcoming India Chem 2024 event.

Minister of State for Health & Family Welfare and Chemicals and Fertilizers, Anupriya Patel, emphasized the significant roles of Odisha, Gujarat, and Andhra Pradesh in driving growth within the chemicals and petrochemicals industry. Patel noted that the India Chem 2024 summit, returning after a two-year break, is expected to attract significant global attention and participation. She pointed out Odisha’s strategic coastal location and skilled workforce, positioning the state as a potential major hub for the sector, with opportunities for manufacturing, employment, and exports.

“The chemicals and petrochemicals sector, valued at USD 220 billion, is projected to surpass USD 1 trillion by 2047,” Patel said, emphasizing the government’s focus on boosting domestic manufacturing and reducing import dependence.

Sampad Chandra Swain, Minister for Industries, Skill Development and Technical Education, Odisha, highlighted the state’s transformative industrial policies and incentives, which have positively impacted the petrochemicals sector. He stressed Odisha’s commitment to green technologies and the state’s focus on reducing carbon footprints to achieve net-zero targets.

Nivedita Shukla Verma, Secretary, Ministry of Health and Family Welfare and Chemicals and Fertilizers, further elaborated on the petroleum sector’s importance, noting its 8% contribution to the nation’s manufacturing and its value of USD 320 billion, making it one of the world’s fastest-growing markets. She shared the government’s ambitions to double petrochemical exports within the next decade.

Deepankar Aron, Joint Secretary, Ministry of Health and Family Welfare and Chemicals and Fertilizers, shared insights into India Chem 2024, which will feature over 200 companies and more than 7,000 visitors. The event will also host B2B and B2G meetings, a Global CEO Forum, and discussions with representatives from Japan, Korea, Brazil, Argentina, and the UAE. Notably, 40 organizations from Odisha will participate, and a job fair will be held for the first time.

Odisha Chief Secretary Manoj Ahuja reaffirmed the state’s ongoing expansion efforts, particularly in infrastructure, including ports like Paradip, Gopalpur, and Dhamra, as well as the development of national highways and road systems. He emphasized the state’s focus on ease of doing business and attracting investments in the petrochemicals sector, with Indian Oil already establishing plastic parks in the region.

Arvindar Singh Sawhney, Co-Chairman of FICCI’s National Petrochemicals Committee, encouraged stakeholders to capitalize on the vast opportunities in the sector. He noted the rising demand for petrochemicals and the readiness of banks to fund projects in this growing field.

The event concluded with Hemant Sharma, Principal Secretary of Industries and MSME Department, Odisha, and Pankaj Satija, Chairman of FICCI Odisha, expressing their support for India Chem 2024 and emphasizing Odisha’s role in driving the future of the chemicals and petrochemicals industry.

The India Chem 2024 Summit will feature companies from chemicals, petrochemicals, technology, and process plant machinery. The Government of India is expected 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 the deadline for submissions set for September 20, 2024.