This year saw the 8th annual IndiaChem conference, organized by the Indian Department of Chemical and Petrochemicals. The FICCI (Federation of Indian Chambers of Commerce and Industry) showcased some of the top Japanese chemical companies under the Japan Zone. This zone, a collaboration with the Japan External Trade Organization (JETRO), featured several technological innovations in the chemical industry. IndiaChem 2014 was held between 9th and 11th October 2014 in Mumbai at the Bombay Exhibition Centre. This exhibition featured petrochemicals, chemicals, pharmaceuticals, technologies, automation and control systems, and process plant machinery involved in the chemical industry.
Visitors to IndiaChem 2014 took advantage of business matching sessions with a variety of different companies. These companies provide many innovative services and products, including ion exchange membranes, films, steel pipes, plant engineering, investment casting wax, specialty chemicals, surface treatment chemicals, high performance plastics, powder metal products, synthetic paper and more. Director General of JETRO Mumbai Takehiko Furukawa said that the chemical industry in India is thriving, but the Japanese presence in the country does not correspond to the size of the industry. Furukawa went on to say that they want to use this opportunity to get into, explore and invest in the Indian chemical industry.
A number of top Japanese companies attended IndiaChem 2014, including: Hitachi Chemical, MCC PTA Indian Corp, IHI Corporation, TCI Chemicals India, Toyo Engineering India, Ashai Kasei Chemicals Corporation and Fujifilm India, MELTEX, PCS Japan, Toray Engineering, Osaka Steel Tube, MELTEX and Mitsubishi Chemical Engineering Corporation. The goal of their participation was to understand the Indian market as well as its potential for growth and expansion.
The IndiaChem conference gives participants and visitors a chance to network, share ideas and explore possibilities to enhance trade and growth. In addition, this exhibition is the perfect opportunity for Indian chemical industry representatives to showcase their strengths and capabilities internationally. The primary focus of IndiaChem 2014 was to expand the chemical industry while paying special attention to green chemistry and sustainable practices.
In the current economic environment it is important to utilize all available resources, create a sustainable and green chemical industry and focus on technologies that are environmentally friendly. It is also important to promote the Responsible Care initiative, which is an example of green chemistry to protect the environment. India is the 6th biggest chemical manufacturer in the world and the 3rd largest manufacturer in Asia. The Indian chemical market is worth more than $108.4 billion and makes up about 3% of the world’s chemical industry. It is expected to grow to $224 billion by the year 2017.