NEED TO UPGRADE QUALITY IN SPECIALITY
CHEMICALS SECTOR EMPHASISED
CONFERENCE
ON SPECIALITY CHEMICALS INAUGURATED
Shri Sukhdev Singh
Dhindsa, Minister of Chemicals and Fertilizers has urged the Indian
Industry to upgrade the manufacturing facilities and adopt globally
acceptable standards including ISO 9000 and 14000 series along
with adoption of the Responsible Care as a practice in the Speciality
Chemicals Sector to become global players. He said that there
was a need to focus on contract manufacturing to establish our
strength in quality products especially as the costs of registering
new products and penetrating new markets is very time consuming
and involves high expenditure.
Inaugurating a conference
on "Speciality Chemicals : Competitiveness in the New Millennium"
here today, Shri Dhindsa said that the sector needs to focus on
imparting special characteristics to the products of the customer
industries such as safety from corrosion, providing gloss and
feel to textiles and leather. He said R&D to develop innovative
products as well as process to prolong the life of existing molecules
through better formulations is the need of the hour. The industry
has to tap its full potential to achieve it’s target of doubling
India’s share of global production by the year 2005, he said.
Shri Dhindsa said
that India has become a major global player in this sector with
volume of the Indian market in the chemical sector being approximately
30 billion US Dollars of which about 4 billion US dollar is of
Speciality Chemicals. The market share of the Speciality Chemicals
sector constitutes nearly 13 per cent of the Indian Chemical industry.
The Indian Fine Chemical and Performance Chemical industry, components
of Speciality Chemicals, are on a growth path and are currently
estimated at 700 million US Dollars and 3 billion US Dollars respectively,
he added.
