Nivedita Shukla Verma, Secretary, Chemicals and Petrochemicals, asked the manufacturers to adopt the latest sustainable technologies available globally
Nivedita Shukla Verma, the Secretary of Chemicals and Petrochemicals, emphasised the significant potential for expansion within the chemicals sector, both to meet local demand and to facilitate exports. She urged the industry to focus on competitiveness and cost efficiency during her address at a conference organised by the Indian Chemical Council (ICC). Additionally, she encouraged manufacturers to embrace the latest sustainable technologies available globally.
Verma highlighted the pivotal role played by the chemicals industry in the country's economic development, as it supplies essential input materials to various manufacturing sectors. The government is actively promoting manufacturing capabilities across all sectors and is committed to enhancing the ease of doing business as required.
Verma noted that the Indian chemicals sector holds immense potential for growth, with India being an attractive destination for investment due to its natural advantages. She mentioned that foreign direct investment (FDI) in the chemicals sector grew by 90% in 2021–22. The goal is to double exports in the next decade while focusing on sustainable resource management.
She stressed the importance of the industry identifying sustainable and innovative technologies, particularly in segments like agrochemicals, dyes, pigments, and specialty chemicals, with an emphasis on sustainable development practises.
Verma pointed out that the pandemic brought significant disruptions in global supply chains, and with growing unrest in various parts of the world, global supply chains are shifting. In this context, India should aim to not only be self-reliant but also seize the opportunity to become a global supplier. To achieve this, India needs to prioritise competitiveness and cost-effectiveness by embracing innovative and state-of-the-art technologies.
However, Verma cautioned that India's advantage in economies of scale and cost competitiveness would only be effective if coupled with clean technology and sustainable practises. Failure to adopt clean technology could potentially turn it into a disadvantage for the country.
Senior officials in the department noted that India annually exports chemicals worth Rs 3.75 lakh crore while importing chemicals worth around Rs 5.5 lakh crore.