Significant projects and advancements in the petrochemicals industry were highlighted by the Department of Chemicals and Petrochemicals in 2024. The introduction of the New Scheme of Petrochemicals, which consists of three sub-schemes, was a highlight.
Building infrastructure-rich parks with amenities to support downstream plastic processing is the main goal of the Plastic Parks Scheme, which aims to improve investment, output, exports, and employment. Ten Plastic Parks are now being implemented in several states at varying phases.
Through grants to academic and research institutions, the Centers of Excellence (CoEs) Scheme seeks to modernize production, enhance product quality, and propel technical innovation. To present, 18 CoEs have been authorized.
The Petrochemicals Research & creativity Commendation (PRIC) Scheme encourages efficiency, creativity, and the management of plastic waste in the petrochemical industry by recognizing innovations in goods, processes, and technology.
India Chem 2024, which took place in Mumbai from October 17–19, highlighted government measures for sustainable growth while showcasing the chemical industry’s growing potential. 172 exhibitors, 49 international participants, 78 global CEOs, 135 presenters, and 689 foreign guests were drawn to the event, which was organized under the CPDS Scheme. Additionally, it drew 8,720 corporate visitors and 1,115 Indian delegates, solidifying its position as a significant industry meeting.
In addition to region-specific forums like India-EU and India-East Asia, key sessions examined dyes, agrochemicals, petrochemicals, and sustainability. Indian states including Gujarat, Odisha, and Rajasthan participated as partner states, with the Netherlands acting as the host nation. In order to facilitate employment chances, the event ended with a Global CEOs’ Conclave and a job fair that included 14 top chemical firms and CIPET students.
The goal of Gurugram’s Institute of Pesticide Formulation Technology (IPFT) is to teach scientists, engineers, and students in agrochemical innovation while also developing environmentally benign pesticide technology.
