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As a precursor to the upcoming Vibrant Gujarat Global Summit, an event focusing on the petrochemical sector of the state is set to be organized in Bharuch on Saturday.
Holding the highest share in India's chemical and petrochemical exports, Gujarat is emerging as the country's hub for speciality chemicals. The upcoming event, 'FutureChem Gujarat: Shaping tomorrow's Chemicals and Petrochemicals Industry', in the run-up to the Vibrant Gujarat Summit will gather policymakers, practitioners, and national and international academicians to discuss future initiatives. The event will centre around sustainability, decarbonisation and growth in upcoming segments. Moreover, startups and business leaders will be showcasing industry-relevant solutions and services during the event. Nationwide, this crucial sector employs around 2 million individuals. Of the USD 94.6 billion chemical industry in India, in 2017-18, USD 31.5 billion was contributed by Gujarat. Similarly, of the USD 137 billion overall coke and petroleum industry, USD 50.8 billion was contributed by Gujarat. Gujarat holds a share of 41 per cent of India's total chemical and petrochemical exports, accounting for 5 per cent of India's total and 27 per cent of Gujarat's total export, respectively. The state has four refining complexes with a combined capacity of 102 million tonnes per annum. The top 10 export destinations are the US, China, Brazil, UAE, Germany, Indonesia, the UK, Netherlands, South Africa, and Belgium. The tenth edition of the Vibrant Gujarat Global Summit, initiated by Prime Minister Narendra Modi in 2003 to put Gujarat on the world map of trade and industry, will be held from January 10 to 12, 2024. The Summit event will be inaugurated by PM Modi on January 10. (ANI)
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