Mumbai, Oct 4 (ANI): Asserting that new technologies are evolving for tackling the problem of industrial waste, President Pranab Mukherjee on Thursday said the industry must also ensure adherence to safety and international health and environmental standards.
Addressing the inaugural function of the 7th Edition India Chem 2012 here, Mukherjee said: "I would like to emphasize, that along with growth, the industry must also ensure increased adherence to safety and international health and environmental standards. The industry must also promote sustainable development by investing in technologies that safeguard the environment and stimulate growth while balancing economic needs and financial constraints."
"New technologies are evolving for tackling the problem of industrial waste and the Indian industry should optimally utilize them. The Indian chemical industry would need to set targets and standards and take up research and collaborations without delay," he added.
Mukherjee further said the global chemical market was estimated to be around USD 3.4 trillion of which India had a three per cent share.
"The development of the chemical industry in India today is, therefore, a key requirement for her progress. Along with its key consumer industries, this industry, is increasingly locating its units in Asia. The share of Asia in the global chemical industry has increased from 31 percent to 45 percent between 1999 and 2009. With Asia's increasing contribution to the global chemical industry, India emerges as one of the focus destinations for chemical companies worldwide," he said.
"The global chemicals market is estimated at about USD 3.4 trillion. The Indian chemical industry is currently estimated to be about USD 108 billion, that is 3 percent share of the global market. This is a very good reason for policy makers and industry to take the lead and prepare a roadmap. The accelerated growth of this sector should be a priority given the talent pool and current untapped demand within the country," he added.
Mukherjee said efforts should also be made to nurture talent and make sure that skill development matched the growth requirement of the industry.
Emphasising that our National Manufacturing Policy envisages increasing the share of manufacturing from the present level of 16 percent to 25 percent in GDP by 2025 and creation of 100 million additional jobs by the manufacturing sector by 2022, Mukherjee said: "The chemical sector has a very important role to play in this endeavour. I understand the National Chemical Policy is currently under preparation and will include measures to facilitate this." (ANI)
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