VGGS 2024: Pre-Summit Seminar on Chemicals, Petrochemicals to be held in Gujarat’s Bharuch

Gandhinagar (Gujarat) [India]: Pankaj Joshi, Additional Chief Secretary to the Chief Minister, announced on Thursday that a pre-Vibrant seminar on chemicals and petrochemicals is scheduled for December 23, 2023, in Bharuch, as part of the 10th Vibrant Gujarat Global Summit (VGGS) 2024.

The seminar, centred around the theme ‘FutureChem Gujarat: Shaping Tomorrow’s Chemicals and Petrochemicals Industry,’ aims to bring together policymakers, practitioners, academics, and industry experts from around the world to formulate a roadmap for the future of sustainable chemicals and the petrochemicals industry.

Providing insights into the seminar, he mentioned that the Chief Minister of Gujarat, Bhupendra Patel, and the Union Minister of Health and Family Welfare and Chemicals and Fertilisers of the Government of India, Mansukhbhai Mandaviya, will be present at the event. Also in attendance will be the Minister of Industries, Micro, Small, and Medium Enterprises (MSMEs), Cottage, Khadi and Rural Industries, Civil Aviation, and Labour and Employment, Balwantsinh Rajput, along with the Minister of Energy, Petrochemicals and Finance, Kanubhai Desai, from the Government of Gujarat.

The programme will feature addresses from other dignitaries, including Pankaj Joshi (IAS), Managing Director of GNFC, Deepak Mehta of Deepak Group, Jay Shroff of UPL Ltd., Immediate Past Chairman of CII Gujarat State and Managing Director of Anupam Rasayan Ltd. Anand Desai, Principal Secretary, Department of Energy and Petrochemicals, Government of Gujarat, Mamata Verma (IAS), Joint Director, DGFT, Ashishkumar Das, and Chairman, Gujarat Pollution Control Board (GPCB), R.B. Bard.

Pankaj Joshi added that Gujarat is known as the “Petro Capital” of India due to the presence of large-scale chemical and petrochemical units in the state, a strategically advantageous location, and strong industrial infrastructure and logistics. Currently, the state contributes about 35% of the total national production of chemicals, solidifying its position as the leading state in the production of chemicals in India. This pre-vibrant summit is being organised in Bharuch, which is the industrial hub of Gujarat, surrounded by Ankleshwar GIDC, Jhagadia GIDC, Dahej GIDC, and Panoli GIDC.

Speaking about the petrochemical industry of the world and the country, he mentioned that the value of the world’s chemical industry is approximately $5 trillion (5000 billion). India’s chemical industry is currently valued at $200 billion, and it is projected to reach $1 trillion by 2040. India produces 80,000 types of chemicals. In chemicals and petrochemicals, India ranks sixth in the world and fourth in Asia. Additionally, it holds the eleventh position as the largest exporter of chemicals.

The seminar aims to provide a platform for business leaders and innovators to showcase their operations and upcoming economic and business opportunities as part of the prestigious Vibrant Gujarat Global Summit 2024.

The event will begin with a welcome address by Pankaj Joshi, IAS – MD, GNFC, followed by an audio-visual film on the chemical and petrochemical sectors in Gujarat. Balvantsinh Rajput, Minister of Industries, MSME, Cottage, Khadi, and Rural Industries, Civil Aviation, Labour and Employment, Government of Gujarat and Kanu Bhai Desai, Minister of Energy & Petrochemicals, Finance, Government of Gujarat will deliver a special address.

CM Bhupendra Patel will give an inaugural address after the keynote address by Union Health Minister Mansukh Mandaviya. Deepak Mehta, Deepak Group and Shri Jai Shroff, UPL Ltd., will share their experience investing in Gujarat.

A vote of thanks will be delivered by Anand Desai – Immediate Past Chairman – of CII Gujarat State – MD – Anupam Rasayan Ltd.

He added that the pre-summit seminar will host a session on ‘Gujarat @ 2047: Charting the Future of the Sustainable Chemicals and Petrochemicals Industry,’ discussing the long-term vision for the sector aligned with the Prime Minister’s vision for a self-reliant India. These discussions will encompass topics such as sustainable growth, technological advancement, policy frameworks, and global cooperation to establish Gujarat as a global leader. Other sessions include ‘Global Partnership for Technology Exchange,’ emphasising international collaboration for technological advancements, and ‘Export Capabilities and Strategies for International Markets,’ focusing on sustainable practises. Additionally, discussions on the development potential of chlor-alkali, positioning Gujarat as an international chemical hub, and topics like sustainable technologies in the petrochemicals sector and Industry 4.0 in the chemicals sector will also be covered.

Petro-industry leaders including Naresh Patel, Chairman and MD, AMI Organics Ltd., Dilip Sawhney, MD, Rockwell Automation, Jayanti Patel, Executive Chairman, Meghmani Organics Ltd, Aashish Kasad, National Leader Chemical, EY India, Sumit Sengar, Director & Head, BIS, Jai Shroff, Chairman & Group CEO, UPL Ltd., Vartika Shukla, Chairman & MD, Engineers India Ltd., and Prasad Panicker, Chairman & Head of Refinery, Nayara Energy, will participate in the discussion during the summit.

Among the seven companies proposed to invest in the chemicals sector, Gujarat Narmada Valley Fertilisers & Chemicals Ltd plans to invest Rs. 5694 crore, followed by Gujarat State Fertilisers & Chemicals Ltd with an investment of Rs. 5000 crore. Deepak Fertilisers & Petrochemicals Corporation Ltd. intends to invest Rs. 1956 crore, while Petronet LNG has a substantial proposed investment of Rs. 21358 crore.

Furthermore, Gujarat Fluorochemicals Ltd. aims to invest Rs. 300 crore, Beezaasan Rs. 250 crore, and Gujarat Chemical Port Limited Rs. 175 Cr., bringing the overall investment in the region to Rs. 34733 crore.

Vibrant Gujarat is a biennial global business summit that will be held in Gujarat. It serves as the premier platform for businesses and governments to explore investment opportunities, foster innovation, and establish partnerships. The event showcases Gujarat’s economic prowess and its commitment to promoting business-friendly policies.