New Delhi, Mar.25 : The Indian growth story is continuing and moving forward at a steady pace overcoming problems, said Commerce and Industry Secretary G.K. Pillai while speaking at the Chem Summit 2008 in the capital today.
He also said that the Electronic Data Interface (EDI) system would be in place and working before the end of the current financial year.
Pillai further added that three focus areas of the summit -- nanotechnology, biofuels and water treatment -- are appropriately chosen, as these would be the most relevant in the immediate future. He said that the 21st century is the century of water, and it scarcity would make it necessary to recycle it. Planned SEZs in the country, he said, are already proposing to recycle 90 percent of their water. Therefore, recycling treatment would have a huge market.
While talking about nanotechnology, Pillai said that India would not be able to do without it, and Indian companies should be encouraged to get into it at the earliest.
Nani Beccalli, President and CEO, GE International drawing upon their successful experience of last twenty years, said that companies entering into India should become an integral part of the economy and localize the decision making for faster decision making.
Beccalli suggested India needed to be more liberal as development takes place where there is free flow of trade, ideas and investment. He emphasized the need to develop the infrastructure, although lot has been done, but lot more requires to be done.
Shiv Krishnan, Managing Director, Seale and Associates Ltd. presented the findings of the study commissioned by CII.
The study gathered inputs from over 100 US companies in the same three sunrise areas, opens opportunities for forging new ties and collaborations. The emerging trends for the biofuels sectors are development and use of cellulosic ethanol and biobutanol based on non traditional biomass which will override the concern regarding food security.
For nanotechnology, India is seen as one of the biggest markets where applications are envisaged in the energy, medicine, chemicals, food and agriculture and clean water technologies sectors.
In the area of water treatment, the study found that the Indian industry could leverage its low cost of manufacturing base through arrangements with US companies for manufacturing water treatment equipment.
Alok Gupta, Chairman, CII National Committee on Chemicals and Managing Director, Cabot India Ltd said this summit is organized to provide platform for sharing knowledge, technology and solutions to all for creating opportunities for growth. He further said that there is urgent need to improve the living conditions of the masses of our country, which government calls 'inclusive growth'.
Gupta said that inclusive growth is critical to sustain broader economic growth. He further said that two areas that would make critical difference to lives of the people across the world and India are clean drinking water and renewable fuels. Calling this initiative as 'Project Include', he proposed running of several pilots and facilitate the creation of micro enterprise to sustain these solutions.
He also appreciated the support of V. Sampat, Secretary, Ministry of Chemicals to channel the efforts to support national building. He announced the tie up between CII and McKinsey to propose an appropriate policy framework and recommendations that would be submitted over the next six months to government for enhancing growth of the chemical sector.
Homi Khusrokhan, Managing Director, Tata Chemicals Ltd. proposed the vote of thanks.