Anshul Gautampurkar’s Post

Chemicals are all around us and across our life and it’s key for sustainability to be integrated in that ecosystem. #PwCIndia was honored to partner with #IndianChemicalCouncil to develop our perspectives for the chemicals industry in a Knowledge Report highlighting a action plan for Sustainable Chemical Manufacturing in India. Our 3I framework (Innovation-Integration-Incentives) spells out a recipe for opening the third eye of India’s chemical manufacturing prowess and showcase across the world !!

Discussing the 3I approach - Innovation, Integration, and Incentives with corporates to propel sustainable growth of the chemical sector. As the sector aims for a $1 trillion market by 2040, collaboration among policymakers, industry leaders, and innovators will be crucial. Enjoyed the panel discussions, corporate interactions and developing the thought paper with my #PwC colleagues. Hope you find it insightful - https://lnkd.in/gP5uehsr

India's chemical industry has made considerable strides towards sustainability, transitioning from mere compliance to proactive global engagement. Initiatives like Responsible Care and Indian Chemical Council's (ICC) own initiative, Nicer Globe have inspired this shift. Today, challenges like climate change, regulatory compliances, and evolving consumer demands are driving chemical companies to integrate sustainable practices in their manufacturing and at the same time, improve their competitive advantage and brand image.    Against this backdrop, PwC and Indian Chemical Council (ICC) are proud to release the knowledge paper,  'Building sustainable chemical manufacturing in India through innovation, integration, and incentives' at the ICC Sustainability Conclave 2024. This paper outlines a comprehensive roadmap for sustainability in India's chemical manufacturing sector.    Explore our 3I approach for sustainability – Innovation, Integration, and Incentives – as the foundation for this transformation: https://lnkd.in/gP5uehsr    #Sustainability #Innovation #ChemicalManufacturing #ICCSustainabilityConclave2024 #3IApproach Dr. Volker Fitzner | Manas Majumdar | Mukund Devnani | Sambitosh Mohapatra | Sandeep Kumar Mohanty | Manpreet Singh | Ajay Deshmukh

The sustainable transformation of India’s chemical manufacturing industry requires a holistic approach that includes feedstock diversification, decarbonisation and circular economy principles. By integrating fossil-based, bio-based, recycled/reused, and CO2 -X based materials, the industry can enhance supply chain resilience and economic stability. This balanced strategy is crucial not only for environmental sustainability but also for economic viability, ensuring a robust future for the industry. To explore the trends and future outlook of Indian Chemical Industry, check out the knowledge paper developed by PwC in collaboration with ICC.

As the Chemical Industry in India expands and evolves the industry has to take a hard look at decarbonising the value chain and low- and zero-carbon production. PwC India and #ICC (Indian Chemical Council) have come together to deliberate on the various strategic levers to create a sustainable industry at the ICC Sustainability Conclave 2024. #IndianChemicalCouncil #Sustainability #PwCIndia

The Indian #chemicals sector stands in the midst of transformative change – having to innovate in a #digital landscape and strengthening its #manufacturing prowess to become a global hub, all the while contending with growing #sustainability imperatives. More insights in our report 'Chemicals value chain transition' https://social.kpmg/iy14qu

Indian chemical sector has a tremendous opportunity to lead in sustainability through innovation, integration, and regulatory compliance. Collaboration across stakeholders—industry, government, and consumers—is crucial to driving long-term change. By embracing sustainable practices, the sector can achieve its economic goals while addressing critical environmental challenges.

**Driving Sustainable Growth: A New Era for the Chemical Industry** The Association of International Chemical Manufacturers (AICM) has officially released its 2024 sustainable development report, spotlighting the transformative role of the circular economy within the chemical industry. This forward-thinking initiative, unveiled in Chengdu, Sichuan province, underscores AICM's commitment to green growth and sustainable practices worldwide. As the global industrial landscape undergoes significant shifts, embracing circular economy principles is no longer optional—it's essential. The AICM report highlights innovative strategies and collaborative efforts necessary for the chemical industry to reduce waste, optimize resources, and contribute to a resilient, eco-friendly future. These insights pave the way for industries to redefine their value chain, focusing on sustainability and long-term impact. How will your organization contribute to this green revolution? Share your thoughts on integrating sustainable practices within your industry. #SustainableDevelopment #CircularEconomy #GreenGrowth #ChemicalIndustry #Innovation #EcoFriendly

Sandeep Kumar Mohanty, Partner – Climate and Sustainability Strategy, PwC India, presented the key takeaways from our knowledge paper at the ICC's Sustainability Conclave 2024.       He emphasised that India’s chemical sector, producing over 80k products and contributing 7% to the GDP, is at a pivotal moment in its sustainability journey. Facing challenges like high GHG emissions, resource dependency, and regulatory pressures, the industry is embracing transformative solutions. Innovations in green chemistry, renewable raw materials, and circular economy practices are making production cleaner and more efficient. Decarbonisation efforts, including green hydrogen, carbon capture, and renewable energy, are crucial for reducing emissions. For more insights, explore our knowledge paper on ‘Building sustainable chemical manufacturing in India through innovation, integration and incentives’: https://lnkd.in/gP5uehsr      #Sustainability #GreenChemistry #IndianChemcialCouncil #ICC      Manas Majumdar | Mukund Devnani | Sandeep Kumar Mohanty | Manpreet Singh | Ajay Deshmukh

India’s net-zero target by 2070 emphasizes significant transformations in (a) energy systems, (b) transport and logistics, (c) materials and chemistry, and (d) food systems. Materials transformation and green chemistry areas are especially critical, demanding innovation from Indian chemical companies. To decarbonize, the sector must shift to sustainable practices like adopting green hydrogen, bio-based chemicals, and renewable energy while optimizing processes through digitalization and electrification. Achieving this will require robust support from stakeholders. (a) The government needs to incentivize sustainable practices via policies like carbon pricing, enhanced regulatory frameworks, and financial support for R&D. (b) Companies must set science-based targets and embrace circular economies. (c) Customer demand for green chemicals will also drive adoption by pushing manufacturers to innovate and invest in low-carbon technologies. (d) Investors must encourage and incentivize firms to adopt sustainable practices. India’s chemical sector is poised for growth, supported by its skilled workforce, favorable government policies, and the global shift towards sustainable manufacturing. However, challenges such as high feedstock and logistics costs persist, necessitating collaborative efforts from public-private partnerships to mobilize funding and create demand signals for green technologies . This transition presents an opportunity for India to lead globally, creating new industries, jobs, and economic value while strengthening its climate leadership.