'Make in Odisha' to host sectoral session on aerospace, defence manufacturing, chemicals and petrochemicals

New Delhi, Oct 31 (KNN) A sectoral session on aerospace, defence manufacturing, chemicals and petrochemicals, will be hosted during the second edition of 'Make in Odisha', the flagship biennial investors' meet.

The sector has been identified as emerging sectors for investments in the state.

The summit will be held from November 11-15.

The objective of session on ‘Chemicals and Petrochemicals’ is to provide a platform to discuss the opportunities for creating a conducive ecosystem for the creation of downstream value chain in petrochemicals and chemicals sector.

The chemicals industry is a very crucial for the economic development of the country because of its sub-segments such as petrochemicals, agro-chemicals, specialty chemicals and fertilizers are related to almost all the key manufacturing sectors of the country.

The domestic chemical industry currently accounts for only 3.4 per cent of the global chemical market and thus, there is a significant potential for the sector to grow.

The session on aerospace and defence manufacturing will focus on topics of salience like manufacturing ecosystem for aerospace and defence, policy initiatives & business framework for the sector, opportunities thrown up by modernization plans of the armed forces, growth opportunities for MSMEs as well as vision and plan for development of the sector in the state.

Odisha has been fast emerging as a petrochemicals hub in the country.

The state has the potential to attract significant investments in the sector, especially in port based manufacturing units, as it is home to three major ports — Paradip, Dhamra and Gopalpur.

The state has identified chemicals and petrochemicals as a focus sector and offers competitive advantages to industries setting up manufacturing facilities in the sector.