The Chemical Business Association (CBA), representing the UK chemical supply chain, has returned from a highly successful international trade mission to India, organized by the Department for Business and Trade (DBT). This mission, aimed at fostering collaboration between the UK and Indian chemical industries, marks a significant milestone in strengthening bilateral ties and exploring new avenues for investment and trade.
The chemical and pharmaceutical industry stands as one of the United Kingdom's largest sectors, constituting the nation's second-largest export commodity. With the Indian chemicals market ranking as the 6th largest globally, valued at £174 billion and employing over 2 million people, the potential for collaboration is immense. Moreover, with the Indian government's planned investment of £112 billion by 2030, the stage is set for further growth and development in the sector.
The recent trade mission, which saw participation from established UK businesses and innovative start-ups, provided a platform for in-depth engagement with the Indian chemical industry. Spanning multiple locations in Mumbai and Gujarat, the mission facilitated discussions and networking opportunities aimed at forging meaningful partnerships and exploring avenues for collaboration.
In Gujarat, delegates engaged with representatives of the Federation of Gujarat Industries (FGI) and Dehaj Industries Association, in addition to meetings with government officials. The itinerary also included participation in the Indian Chemical Council (ICC) Seventeenth Annual India Chemical Industry Outlook Conference & Exhibition in Mumbai, where the UK was honored as the Country Partner. Notable addresses were delivered by Harjinder Kang, His Majesty's Trade Commissioner for South Asia, and CBA CEO Tim Doggett, underscoring the commitment to fostering collaboration.
The mission concluded with delegates meeting with key stakeholders from the UK Trade & Exports department, further solidifying the commitment to enhancing bilateral trade relations.
Reflecting on the mission's success, Tim Doggett, CEO of the CBA, emphasized its significance in bolstering international trade and collaboration within the chemical supply chain. The mission not only provided valuable networking opportunities but also paved the way for future collaborations and partnerships between the UK and India.
Mottie Kessler, Chairman and CEO of 2M Holdings, echoed these sentiments, highlighting the meticulous organization of the mission and the opportunities it created for mutual growth and collaboration between the UK and India.
Harjinder Kang, His Majesty's Trade Commissioner for South Asia, expressed optimism about the prospects for collaboration between the UK and India, particularly in exploring innovative green technologies to achieve decarbonization in the chemical industry.
Overall, the successful trade mission underscores the importance of international collaboration in driving growth and prosperity in the chemical sector, reaffirming the commitment of both nations to fostering stronger bilateral ties and addressing shared challenges.
