President Mr. Pranab Mukherjee today called upon the Indian chemical industry to promote sustainable development by investing in green technologies. Speaking in Mumbai, after inaugurating the INDIA CHEM 2012, Mr. Mukherjee said the industry must ensure increased adherence to safety and international health and environmental standards.

The President further said the chemical and petro-chemical industry has a very important role to play in increasing the share of manufacturing from the present level of 16 per cent to 25 per cent, as per the National Manufacturing Policy. He said, the National Chemical Policy is currently under preparation and will include measures to facilitate this. With Asia's share in the global chemical industry increasing from 31 per cent to 45 per cent, India has emerged as one of the focus destinations for chemical companies worldwide. The President also called upon the industry to increase its spending on Research & Development from the current level of 1-2 per cent to 5-6 per cent of the annual turnover.

INDIA CHEM 2O12 has brought together policy makers, chemical industry leaders from India and abroad to debate and deliberate the issues concerning future of chemical and petrochemical industry. It is organized jointly by the Department of Chemicals and Petrochemicals, Government of India and FICCI. The Governor of Maharashtra, Mr. K Sankaranarayanan, Chief Minister Prithviraj Chavan, Union Minister for Chemicals and Petrochemicals M K Alagiri, Minister of State Shrikant Jena, Secretary, Chemicals & Petrochemicals K Jose Cyriac, were among those present at the inaugural event.