Gandhinagar (Ahmedabad), Oct 25 (KNN) Global “Buyer-Seller” meets are taking place under the aegis of the 'Chemexcil' event where 40 international buyers from 15 countries, especially from Africa, Asia and CIS countries are participating as the Indian chemicals industry is poised to grow.
The Chemexcil being organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) was opened by Gujarat Chief Minister Narendra Modi, who emphasised on the need for recycling of the plastic for saving environment.
Among various components, the speciality chemical is the fastest growing segment. These are high value, low volume chemicals known for their end-use applications and/or has performance enhancing properties. There is immense potential for increasing consumption within the country and make India a reliable exporter of quality chemicals, according to FICCI.
Modi also advised the industry to give due attention to value addition in items like castor oil, for which Gujarat accounts for 85 per cent of national production and is getting exported for value addition elsewhere.
The chemicals industry comprises both small and medium enterprises as also big corporations which are engaged in the related petro-chemicals and their bye-products.