Page 48 - CII ARTHA

ARTHA

The Ascent of

India’s Chemical Sector

I ndia overtaking Japan as the fourth specific impact on the chemical industry.
largest economy brings to the fore its
Adoption of Artificial Intelligence (AI) is a
dynamism as the fastest growing major
economy in the world. At the heart of this prime example that has revolutionized
chemical manufacturing through enhanced
industrial advancement lies the chemical process optimisation, predictive
sector - a critical industry that is emerging as maintenance for critical equipment, and
one of the key players driving the nation’s innovative approaches to waste reduction,
ambition for self-reliance and global thereby boosting efficiency and safety. The
competitiveness. The sector’s strong track spirit of indigenous problem-solving and
record as an early adopter of technology, execution excellence is also mirrored in
coupled with significant investments in the chemical sector’s push towards
innovation and sustainability, is particularly advanced manufacturing and Research &
Mr R. Mukundan evident in the transformation taking place Development (R&D).
through its chemical landscape.
President Designate, CII and
MD & CEO, This progress is also increasingly viewed
Tata Chemicals through a holistic lens, where sustainable
Chemical sector is emerging economic development is not just a goal
as one of the key players but a fundamental driver of growth. For the
driving the nation’s ambition chemical sector, often under scrutiny for its
for self-reliance and global environmental impact, embracing
sustainability is crucial. It involves
competitiveness adopting greener processes, managing
waste responsibly, and developing
eco-friendly products, thereby creating
The government’s prioritisation of strategic long-term value for stakeholders and
investments in infrastructure, digitization strengthening India's position as a
and manufacturing has been crucial in responsible global player.
catalysing growth not just broadly, but with

48