India Chem 2024 Concludes: Showcasing India’s Chemical Industry Prowess

The 13th edition of India Chem, held from October 17-19, 2024 at the Bombay Exhibition Centre in Mumbai, has successfully concluded, marking a significant milestone for the chemicals and petrochemicals industry. This biennial event, jointly organized by the Department of Chemicals & Petrochemicals and FICCI, highlighted India’s growing prominence in the global chemical landscape.

Key Outcomes

Record Attendance: The event saw participation from over 15,000 visitors from 30 countries, underscoring its international appeal. Industry Growth Projections: Discussions reaffirmed the Indian chemical industry’s trajectory, currently valued at $220 billion, with projections to reach $300 billion by 2030 and $1 trillion by 2040. Investment Commitments: Several major investment deals were announced during the event, totaling over $5 billion in potential investments.

India is emerging as a suitable destination for its good governance practices, high-quality infrastructure, robust trade and investment policy, strong regulatory framework, and availability of quality labour at competitive prices. Demographic dividends, low per capita consumption, increasing export demand and enabling Government initiatives are expected to transform India into a global manufacturing hub for chemicals and petrochemicals and help realise the vision of the country becoming a USD 5 trillion-dollar economy.

Technology Showcase: More than 300 exhibitors displayed cutting-edge technologies and innovations in chemical manufacturing and processing.

Event Highlights

• The Global CEOs Round Table saw participation from leaders of multinational chemical corporations, discussing strategies for sustainable growth.
• Conclaves on various industry segments, including chemicals, petrochemicals, agrochemicals, and process machinery, provided in[1]depth insights into sector[1]specific opportunities and challenges.
• Regional exchange sessions fostered dialogue between Indian industry representatives and delegations from key international markets.

Government Initiatives Showcased The event highlighted several government initiatives aimed at boosting the sector:

• Production Linked Incentive (PLI) schemes for chemicals and petrochemicals
• Ease of Doing Business reforms specific to the chemical industry
• Initiatives to promote research and innovation in green chemistry

Future Outlook

India Chem 2024 reinforced India’s position as an emerging global hub for chemical manufacturing. Factors contributing to this outlook include:

• Robust domestic demand growth
• Increasing export opportunities
• Supportive government policies
• Availability of skilled workforce
• Focus on sustainability and circular economy principles

The successful conclusion of India Chem 2024 has set a positive tone for the industry’s future, aligning with India’s vision of becoming a $5 trillion economy. The event demonstrated the chemical sector’s crucial role in this economic transformation, fostering innovation, investment, and sustainable growth in this rapidly evolving market. As the curtains fall on this edition, stakeholders are already looking forward to the next India Chem, anticipating even greater opportunities and advancements in the chemical and petrochemical sectors.