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Daily News & Analysis
Friday, August 08, 2008
Indian chem industry worried about post-Olympics China
Future remains uncertain, as chemical units around venue are set to resume after the Games
Maulik Buch. Vadodara
With the opening ceremony of the Beijing Olympic Games taking place on Friday, the Indian chemical sector is in a tizzy. However, this has nothing to do with interest in the world's largest sporting event. Rather, it is the uncertainty of the future that haunts the chemical industry in our country.The Chinese government had ordered the shutdown of all industrial units in the vicinity of the Olympics venue around two years ago, in a bid to reduce pollution. As a result, a large number of entrepreneurs and clients shifted their focus to the Indian market, leading to large gains for the country's chemical sector. VS Sampath, secretary, department of chemical and petrochemicals, said, “The industry needs to wait and watch. This is an extraordinary situation, where everything is uncertain.”President of the Gujarat chapter of the Indian Chemical Council (ICC), Ravi Kapoor, said, “With reference to the order passed by the Chinese government, a large number of industries situated around the venue of the Olympic Games were forced to shut down or relocate to other sites. Most units were involved in the production of chemicals. As a result, there was a favourable shift towards Indian chemical industries in the global market. However, once the Olympics end, the major question will be regarding actions taken by the Chinese government and the reaction of Indian chemical units. As of now, there is a high level of uncertainty prevailing in the Indian chemical industry.”
Daily News & Analysis
Friday, August 08, 2008
Indian chem industry worried about post-Olympics China
Future remains uncertain, as chemical units around venue are set to resume after the Games
Maulik Buch. Vadodara
With the opening ceremony of the Beijing Olympic Games taking place on Friday, the Indian chemical sector is in a tizzy. However, this has nothing to do with interest in the world's largest sporting event. Rather, it is the uncertainty of the future that haunts the chemical industry in our country.The Chinese government had ordered the shutdown of all industrial units in the vicinity of the Olympics venue around two years ago, in a bid to reduce pollution. As a result, a large number of entrepreneurs and clients shifted their focus to the Indian market, leading to large gains for the country's chemical sector. VS Sampath, secretary, department of chemical and petrochemicals, said, “The industry needs to wait and watch. This is an extraordinary situation, where everything is uncertain.”President of the Gujarat chapter of the Indian Chemical Council (ICC), Ravi Kapoor, said, “With reference to the order passed by the Chinese government, a large number of industries situated around the venue of the Olympic Games were forced to shut down or relocate to other sites. Most units were involved in the production of chemicals. As a result, there was a favourable shift towards Indian chemical industries in the global market. However, once the Olympics end, the major question will be regarding actions taken by the Chinese government and the reaction of Indian chemical units. As of now, there is a high level of uncertainty prevailing in the Indian chemical industry.”
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