New Delhi, Dec 7 (KNN) The chemical industry of India is expected to reach USD 383 billion by 2030 growing at 8% CAGR, said Duraiswami Narain, Chemical Conference Chairman and President, South Asia, and Global Head of Smallholder Farming Bayer CropScience Limited.

Addressing the 4th edition of Chemical Conference organised by CII on Wednesday Narain said there is a need to have an ecosystem for industrial development.

“India must achieve three major milestones for building competitiveness – safety & sustainability, making a mark in the global trade, and and R&D, innovation & digitalization– to make the Chemicals and Petrochemicals industry a global powerhouse by 2047,” Narain added.

Emphasising on the role of manufacturing in achieving the USD 5 trillion vision, Susanta Kumar Purohit, Joint Secretary (Chemicals), Department of Chemicals and Petro-Chemicals said, “The industry and government need to collectively work to reduce emissions, & plastic waste and use renewable raw materials such as agricultural & bio waste more to make the processes more environmentally friendly.”

The Department of Chemicals and Petro-Chemicals has also set up an Industry Facilitation Cell and Purohit has asked the industry to log issues with the cell so that they may be taken to their logical conclusion.  (KNN Bureau)