Like every year, Indian Chemical Council (ICC) is organising the Annual India Chemical Industry Outlook Conference from March 6-7, 2014. This year’s event will bring together a pool of experts from the industry to debate on ‘India in the global chemical industry’. The policy makers, the leaders from the industry and other important stake holders will collaborate on the huge potential which is apparent.
On the eve of this mega event, Rakesh Rao caught up withYogesh Kothari, President, ICC, to known the present status of the Indian chemical industry and challenges and opportunities before it.
What are the challenges faced by the Indian chemical industry? How can one overcome these challenges?
The attitude and the awareness of the top management in the chemical companies need to go through a major change and bring their houses in order by spending capex towards environmental and safety related improvement projects. These need to be taken up may be in a phased manner but on a priority basis and for this finance may be provided by the Government looking at the overall potential of the industries and the revenues which can be generated which in turn helps overall growth of the GDP.
The image of the industry is always challenged and this is true all around the world – may be a little more so in India. The industry will have to realise the payback will be much more, when the house is in order.