Home / Knowledge / News / Textiles / Petrochem Conclave discusses global trends & opportunities
Petrochem Conclave discusses global trends & opportunities
12
Feb '14
The 3rd annual Petrochemical Conclave held recently in Gurgaon, India, brought together several representatives from the petrochemical fraternity who discussed the various global trends and opportunities present in the sector.
 
Organized by the Indian Oil Corporation Ltd., (IOCL), the daylong conference was held under the theme ‘Petrochemicals—Global Trends and Opportunities’ and saw participation from several industrialists from the petrochemical sector of India as well as government officials.
 
While inaugurating the conference, Indrajit Pal secretary of Department of Chemicals and Petrochemicals said the Indian petrochemical industry is expected to be a key player in the manufacturing sector of the country and is estimated to push up the national Gross Domestic Product (GDP) rate from the current 16 percent to 22 percent by 2022.
 
According to Mr. Pal, the global petrochemical industry is undergoing an unprecedented change with the emergence of shale gas discoveries in North America particularly in the US.
 
The global petrochemicals market was valued at around US$ 472 million in 2011, and is expected to touch $791 million by 2018, with the annual growth rate of the petrochemical industry being around 6.7 percent over this period, as production scales are changing due to advent of mega projects and huge production volumes, he added.
 
At the conference, chairman of Indian Oil Corporation Ltd., (IOCL) RS Butola informed about the various initiatives taken up by IOCL, which in a short span has become the second largest petrochemical player in the country, earning valuable foreign exchange through exports of various petrochemical goods to over 50 nations.
 
Mr. Butola said that the Petrochemical Conclave is extremely important as a forum for the sector’s representatives for ideation and brain storming on technological advancements and market trends in the industry, which would help in the growth of the petrochemical sector of India.
 
The daylong conference was organized by IOCL with the objective of providing a platform for the petrochemical fraternity to come together and examine ways and means to explore and bring to fruition the tremendous growth opportunity provided by the petrochemicals sector.
 

Fibre2fashion News Desk - India


Must ReadView All

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

American Merchant to invest $19.9 mn to start Bristol plant

Textiles | On 15th Dec 2017

American Merchant to invest $19.9 mn to start Bristol plant

American Merchant, Inc., a subsidiary of Merchant House International ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search