The Hindu : Business : Chemical units must create brand image, says Paswan

Online edition of India's National Newspaper
Thursday, Nov 04, 2004

Business

Business

Chemical units must create brand image, says Paswan

By Our Staff Correspondent

MUMBAI, NOV. 3. "In the coming years, the Indian chemical industry should aim at increasing its share by creating world scale manufacturing facilities backed by contemporary technologies. India must create a strong brand image not only for the lower cost, but also as the highest quality supplier of chemicals," said Ram Vilas Paswan, Union Minister for Chemicals, Fertilizers and Steel, while delivering the inaugural address at India Chem 2004.

A three-day event, India Chem 2004 is jointly organised by the Department of Chemicals and Petrochemicals, and the Federation of Indian Chambers of Commerce and Industry (FICCI).

"Based on the report on petrochemicals by our Task Force, we are now engaged in the formulation of a national policy on petrochemicals. The need for specialised industrial estates for the chemical industry has been felt the world over and we are at present conducting studies for the setting up of such mega chemical industrial estates in India," said Mr. Paswan. While enumerating the highlights of the chemicals industry, Nikhil R. Meswani, Executive Director, Reliance Industries, said, "Today India has more than 10,000 units manufacturing chemicals and it ranks 12th in the production of chemicals while however, failing to find a place in the list of top 25 in consumption.

Masaoki Funada, Representing Director and Deputy CEO of Mitsubishi Chemical Corporation, Japan, said the Indian market would grow. "Having actually brought the investment project of Rs. 1,475 crores (in Haldia, West Bengal), to success, I am firmly convinced that this market is indeed arrestingly interesting and highly promising".

Printer friendly page
Send this article to Friends by E-Mail

Business