Hon. Union Minister Suresh Prabhu presents Chemexcil awards in Mumbai

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Mumbai, April 23, 2018: CHEMEXCIL – Basic Chemicals, Cosmetics & Dyes Export Promotion Council set up by the Ministry of Commerce & Industry Government of India – held its 46th Annual Export Awards and Certificate of Merit for the year 2016-17 at a glittering function in Mumbai. Shri Suresh Prabhu, Union Minister for Commerce & Industry and Civil Aviation, Government of India and Shri Shyamal Misra, Jt. Secretary, Ministry of Commerce & Industry, graced the Annual Award function, which was attended by captains of the chemical industry and business leaders. Shri Satish Wagh (Chairman, CHEMEXCIL), Shri Ajay Kadakia (Vice Chairman, CHEMEXCIL) and Shri SG Mokashi (Additional Vice Chairman, CHEMEXCIL) were the hosts for the grand event.

Applauding the valuable contribution of Indian chemical exporters, Hon. Union Commerce & Industry Minister Shri Suresh Prabhu said, “The country’s chemical sector has huge growth potential and it needs to create a capacity to meet exports demand. This is possible because of the large pool of entrepreneurs who make sustained efforts to promote the chemical sector exports in coming days. I understand, the chemical sector is expected to grow more than double and touch USD 300 billion by 2025 from USD 147 billion now. On part of Government initiative, let me assure you that the Government would provide an enabling environment to the industry to increase the country’s exports.”

Shri Prabhu added, “During CHEMEXCIL’s Export Awards, it was heartening to see the first generation of entrepreneurs coming forward to take the business to the next level. Many countries across the world have started enforcing stringent norms wrt chemicals and this presents India with a wonderful opportunity to enhance its market access and gain market share. Export Promotion Councils such as CHEMEXCILs are think tanks that have to play a key role in developing macro strategy to help exporters increase global exports. With competition increasing, we have to formulate a clear roadmap and Union Ministry is willing to act as a facilitator. As Guardian Minister for the chemicals industries, I am happy to help resolve GST related issues. I urge the industry constituents to appeal to the State Chief Ministers as States have greater representation in GST Council. We are soon starting a portal with the help of multiple relevant agencies where all issues related to foreign trade transactions will be addressed in order to improve efficiencies.”

Shri Shyamal Misra, Jt. Secretary, Union Ministry of Commerce & Industry, said, “The chemicals sector is vital for Indian economy. The Indian chemicals industry sized at around USD 147 billion is ranked amongst the Top 7 in the world and Top 3 in Asia – however we have to make efforts to move up to amongst the Top 2 or 3 ranks in the world. Government has unveiled several new schemes and is committed to help exporters increase exports. There is a lot of potential in agro chemicals and speciality chemicals and we have to enhance our global market share therein.”

Top export performers includes Reliance Industries, Godrej Industries, Aarti Industries, UPL, Indo-Amines, Galaxy Surfactants, Jubiliant LifeSciences, Girnar & Oriflame to name a few. CHEMEXCIL felicitated two Life Time Achievement Award Winners viz. Mr. Ashwin Champraj Shroff from Excel Industries Ltd. and Mr. Jayant Patel from Meghmani Organics Ltd. CHEMEXCIL presented 11 Trishul Awards, 12 Gold Awards, 11 First & 9 Second Awards, 19 Certificates of Merit and 11 Award of Excellency.

Mr. Satish Wagh, Chairman, CHEMEXCIL, said, “The selection of Awards has been done taking into consideration the consistency and growth achieved in exports during the last three years and the export figure of the year 2016-17 and the total awards conferred on the exporters was 73 and 2 Life Time Achievement Awards. The supportive policy initiatives of the Government encouraged our star exporters to increase their share in the world market. India has the talent, technology and infrastructure already. In 2016-17, Exports of CHEMEXCIL was USD 12.15 billion which shows increase of 4% in value terms over previous year exports of USD 11.68 billion”.

In the midst of present difficult global market, the value of Indian chemical exports have touched a growth of 18 per cent at USD 12.78 billion in the period from April 2017 to February 2018 over the corresponding previous year which augers well for future and a sign of recovery.  The value of Global Chemical Industry is estimated at US$ 4.3 trillion. Whereas, the output of Indian Chemical Industry is US$ 147 billion in 2015 and is expected to grow at around 9 % per annum over next 5 years. In value terms, Indian Chemical industry is 3rd in Asia & 6th worldwide.