Shri M.K. Alagiri Invites Indonesian Business Community to invest in the Chemicals and Petrochemical Sectors in India
The Minister for Chemicals and Fertilisers Shri M.K.Alagiri has invited the Indonesian business community to invest in the Petroleum, Chemicals and Petrochemical Investment Regions (PCPIR) and other regions in India and become partners in our infrastructure development. He was addressing the Indonesian business community in Jakarta today. He said, the purpose of creating the PCPIRs is to encourage global scale investment in Petroleum, Chemical and Petrochemical sectors to accelerate economic growth and technological development. He said, the PCPIRs will be delineated investment regions having an area of about 250 sq. kms with at least 40 per cent area earmarked for processing activities. This region, like other chemical parks would have a combination of production projects, public utilities, logistics, residential areas and administrative services.
The Minister said, the per capita consumption of Chemicals and Petrochemicals are relatively low in comparison to the world and offers a huge potential for development of Chemicals and Petrochemicals industry in India. Shri Alagiri said, the sector with a total annual production of approximately 35 Billion US Dollars contributes about 3 per cent of India’s GDP. Over the last decade, these industries have evolved as innovators, with investment being planned in research and development in both commodity chemicals and specialty chemicals.
He also invited the Indonesian business community to participate in an exhibition and conference being organized at Ahmedabad from 12th to 14th December 2009 on Fine Chemicals, Agrochemicals and Colorants. He also invited them to the biannual “India Chem” exhibition scheduled to be held from 28th to 30th October 2010 in Mumbai. Both these events will not only showcase the potential of the Chemical and Allied industries, but also highlight business opportunities and facilitate collaborations.
Shri Alagiri said, despite the world economic meltdowns, Indian economy has been registering a growth rate of about 6 to 6.5 per cent and that it will be maintained and will in fact go beyond 8 per cent to 9 per cent in the post recession years. He emphasized that India presents excellent opportunity for invest in the Chemicals and Petrochemical sectors in view of the continued growth.
The Minister for Chemicals and Fertilisers Shri M.K.Alagiri has invited the Indonesian business community to invest in the Petroleum, Chemicals and Petrochemical Investment Regions (PCPIR) and other regions in India and become partners in our infrastructure development. He was addressing the Indonesian business community in Jakarta today. He said, the purpose of creating the PCPIRs is to encourage global scale investment in Petroleum, Chemical and Petrochemical sectors to accelerate economic growth and technological development. He said, the PCPIRs will be delineated investment regions having an area of about 250 sq. kms with at least 40 per cent area earmarked for processing activities. This region, like other chemical parks would have a combination of production projects, public utilities, logistics, residential areas and administrative services.
The Minister said, the per capita consumption of Chemicals and Petrochemicals are relatively low in comparison to the world and offers a huge potential for development of Chemicals and Petrochemicals industry in India. Shri Alagiri said, the sector with a total annual production of approximately 35 Billion US Dollars contributes about 3 per cent of India’s GDP. Over the last decade, these industries have evolved as innovators, with investment being planned in research and development in both commodity chemicals and specialty chemicals.
He also invited the Indonesian business community to participate in an exhibition and conference being organized at Ahmedabad from 12th to 14th December 2009 on Fine Chemicals, Agrochemicals and Colorants. He also invited them to the biannual “India Chem” exhibition scheduled to be held from 28th to 30th October 2010 in Mumbai. Both these events will not only showcase the potential of the Chemical and Allied industries, but also highlight business opportunities and facilitate collaborations.
Shri Alagiri said, despite the world economic meltdowns, Indian economy has been registering a growth rate of about 6 to 6.5 per cent and that it will be maintained and will in fact go beyond 8 per cent to 9 per cent in the post recession years. He emphasized that India presents excellent opportunity for invest in the Chemicals and Petrochemical sectors in view of the continued growth.
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