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| Chemical manufacturers |
| see good year ahead |
| S Subramanian, Executive Director-Chlorochemicals
Division, Chemplast Sanmar Limited and President-ICMA, said
at the Annual General Meeting of Indian Chemical Manufacturers
Association (ICMA), held at Mumbai in September 1999, that domestic
consumption of chemicals was expected to improve this year as
there was growth in demand in most products. The economy seems
to have come out of the sluggishness of 1998-99 and most chemical
companies have shown good results in the first quarter of 1999-2000.
This is especially true for agrochemicals, fertilizers, polymers
and organic chemicals. Dipak Chatterjee, Secretary, Ministry
of Chemicals and Fertilisers, said that chemical manufacturers
should strictly adhere to pollution control and other environmental
norms. |
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Sandra Shroff, Chairperson, ICMA (WR),
S Subramanian, President, ICMA and Dipak Chatterjee, Secretary,
Ministry of Chemicals and Fertilisers. |
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| He also said that companies that tried to cut costs
by not following the standard norms to control pollution would have
to face severe consequences. About the future prospects for the chemical
industry, he said, that technical skills should be used more efficiently
to face the threats of the future. |
| Ravimohan, Managing Director, CRISIL, told the gathering
that the key challenges that the domestic chemical industry would
face in the future would include globalisation, declining tariffs,
consolidation of capacities, environmental issues and financing. To
meet these challenges, Ravimohan said that both technical and financial
alliances should be sound, competitiveness should be improved and
capacity utilisation maximised through closure of unviable units. |
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