Page 142 - CW E-Magazine (13-8-2024)

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‘NATIONAL CHEMISTRY DAY 2024’

‘Continuous investment in R&D and strengthening

of supply chain need of the hour’

Godrej Industries Group (GIG) tainable practices, India
hosted the fi rst edition of its ‘National can, not only meet, but
Chemistry Day’ Summit on August 2 exceed global standards
in Mumbai. The day marks the birthday in chemical manufac-
of the legendary educationist and entre- turing. With this having
preneur Acharya Prafulla Chandra Ray, a direct bearing on the
also widely regarded as the fi rst modern country’s economy, it is
Indian chemist. now the time to catalyse
partnerships and initia-
Jointly organised by Godrej Chemi- tives that can transform
cals and Astec LifeSciences, the summit our industry.”
brought together academia and industry ing a dialogue on India’s potential to
leaders to discuss trends and techno- become a CDMO hub and another with Commenting on the signifi cance of
logies redefi ning the landscape of modern Mr. Vishal Sharma, Executive Director green chemistry, Mr. Sharma, said com-
chemistry and how Indian chemical and CEO of Godrej Industries Ltd. panies are implementing closed-loop
industry can leverage the same. (Chemicals), steering a conversation on systems to minimise waste generation
green chemistry trends and sustainabi- and maximise recycling and reuse of
Commenting on the initiative, Mr. lity. The panellists emphasised the need materials. “We are at a critical juncture
Nadir Godrej, Chairman and Managing for continuous investment in R&D and where sustainability is no longer optional
Director, Godrej Industries Ltd. said, “Glo- strengthening of supply chain without but a fundamental aspect of chemical
bally touching lives of people every day compromising on environmental and innovation,” he noted.
in different ways, the chemical industry sustainability aspects as an imperative
is a critical pillar of the economy. Helping to elevate India’s position on the global The summit was also addressed by
meet the needs of society, a collaborative innovation and chemistry map. leading experts like Mr. Balram Singh
approach will ensure progress across Yadav, Managing Director, Godrej
industries, thereby driving circularity and Commenting on India being an Agrovet Ltd; Mr. Burjis Godrej, Execu-
reducing emissions. Through this sum- optimal destination for the global CDMO tive Director & COO – Crop Protection
mit, we intend to create a platform which industry, Mr. Roy said, “India’s strong Business, Godrej Agrovet Ltd.; Dr. Ashish
can aid cross pollination of ideas amongst process engineering capabilities, avail- Lele, Director of CSIR-National Chemi-
the constituents of the chemical industry ability of specialised and abundant cal Laboratory; Mr. Avinash Goyal,
and celebrate chemistry.” manpower, coupled with its manufac- Senior Partner, McKinsey, Dr. Ravi
turing capabilities, provides immense Annavarapu, President, FMC Corpora-
The summit featured two panel dis- potential to become a preferred destina- tion India; Dr. Amit Pratap, Professor
cussions – one with Mr. Anurag Roy, tion for CDMOs. With strategic invest- and Head at Institute of Chemical Tech-
CEO of Astec LifeSciences Ltd., lead- ments in R&D, quality control, and sus- nology, among others.

POLICY ROLLBACK

Customs duty on import of lab chemicals for R&D

cut to 10%

The Finance Ministry has slashed percent from 150 percent announced in ing undenatured ethyl alcohol of any
customs duty on lab chemicals, exclu- the 2024-25 Budget. The basic customs alcoholic strength) for use in laborato-
ding undenatured ethyl alcohol, to 10 duty (BCD) on lab chemicals (exclud- ries and for R&D purposes has been

142 Chemical Weekly August 13, 2024

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