Eleven Memoranda of Understandings (MoUs) were signed at a pre-event leading up to the Vibrant Gujarat Global Summit in Bharuch, indicating a significant investment potential totalling ₹67,000 crore. The event, themed ‘FutureChem Gujarat: Shaping Tomorrow’s Chemicals and Petrochemicals Industry,’ aims to unite policymakers, industry practitioners, and national and international academicians for discussions on future initiatives, particularly focusing on the petrochemical sector in the state. Gujarat, holding the largest share in India’s chemical and petrochemical exports, is steadily establishing itself as India’s hub for speciality chemicals.
The Bharuch event emphasises key themes such as sustainability, decarbonisation, and growth in emerging segments within the industry. It serves as a platform for start-ups and business leaders to present industry-relevant solutions and services. Gujarat contributed $31.5 billion to the $94.6 billion Indian chemical industry in 2017-18 and $50.8 billion to the $137 billion coke and petroleum industry.
As reported by Hindustan Times, Gujarat commands a 41% share of India’s total chemical and petrochemical exports, representing 5% of India’s overall exports and 27% of Gujarat’s total exports. The state has four refining complexes with a combined capacity of 102 million tons per annum. Among the top ten export destinations for Gujarat are the US, China, Brazil, UAE, Germany, Indonesia, the UK, Netherlands, South Africa, and Belgium.
