Page 182 - CW E-Magazine (17-10-2023)

Asian Chemicals Forum 2023 Interview

gets, emission trading mechanisms continue to work on the principle  An industry-led mechanism (Task CHEMICAL LOGISTICS
under a cap & trade programme, of Common But Differentiated Res- Force) should be set up to respond
incentivised voluntary reductions ponsibility – Respective Capacity to the regulatory developments in DP World gearing up to make the most of a favourable
under UNFCCC (United Nations (CBDR-RC) regarding obligations the EU and other countries.
Framework Convention on Climate in meeting sustainability goals  A national programme should be environment for chemicals trade
Change) or similar CER (certifi ed and targets, providing for fi nancial developed for the generation of data
emission reduction) trade schemes, mechanisms to support the develop- that can be shared/made available P World has been part of few decades. Both countries estimate
bilateral offset arrangements, etc. ing economies. to industry especially MSMEs for India’s growth journey for over bilateral commerce to increase from
The programmes may also need to  The classifi cation of hazards of regulatory submissions, to ease the Dtwo decades and has been leve- US$60-bn to US$100-bn over the next
be designed to provide evidence for endocrine disruptors and PFAS should burden of compliance on the SMEs. raging its global and local expertise fi ve years under the CEPA. Chemicals
new regulatory practices such as be taken up within the UN-GHS  The regulatory framework under to create new routes to make trade pos- is one of the important products that
the EU’s Carbon Border Adjust- framework for uniform adoption. the recently notifi ed Carbon Credit sible. DP World has built a strong and will gain immediately from the agree-
ment Mechanism (CBAM). All regulatory measures should be Trading Scheme (CCTS) should sustainable end-to-end supply chain ment, and others being oil and gas, mine-
 Beyond government-notifi ed regu- based on quantifi able risks that be developed with speed, ensuring ecosystem connecting manufactur- rals, textiles, agriculture, gems and
lations, the industry should colla- enable focusing on those with higher that the validation/verifi cation of ing markets to consumption markets jewellery, and metals.
borate to set up voluntary action, risks while allowing for manage- GHG emissions is in place to cater through investments in strategic assets
reporting, and disclosure schemes able alternatives to remain in use. to EU-CBAM reporting require- including port terminals, inland termi- How do you see the pattern of trade
towards safer use of chemicals. ments. nals, container freight stations, cold evolving over the next decade?
Where certifi cation is selected as India-specifi c recommendations  Till a more comprehensive chemical stores, Grade A warehousing facili-
the route, there should be corres- India-specifi c recommendations were safety management system is deve- ties, built-to-suit warehouses, rail net- As global trade undergoes a signi-
ponding actions for handholding made as under: loped, the current practice of noti- works, free trade warehousing zones, Mr. Ranjit Ray fi cant transformation, emphasizing
and awareness creation, especially  India should implement a regula- fying QCOs for identifi ed chemi- and express hubs. Each DP World Mr. Ranjit Ray: The Comprehen- collaboration with countries adopting
for MSMEs. tory system for chemicals manage- cals should continue as it provides facility offers seamless connectivity sive Economic Partnership Agreement democratic climate change solutions,
 There needs to be a greater invest- ment that requires mandatory notifi - protection against non-conforming, across India and the world through an (CEPA) has opened new avenues for and as businesses prepare for future
ment into setting up (GLP or simi- cation of all chemicals with a view hazardous products being supplied. integrated multimodal supply chain bilateral trade, with the goal of increas- uncertainties, these emerging trends are
lar) R&D/testing laboratories, with to building a national (IT-backed) However, it should be enforced on network. ing bilateral trade in goods to $100-bn shaping global trade patterns. Lessons
a view to generating qualitative inventory and using the informa- chemicals after due consultation in fi ve years and trade in services from past disruptions have prompted a
data with speed, simultaneously tion to subsequently administer the with the industry. Today, DP World accounts for 28% to $15-bn. India is amongst the top global recognition of the importance of
reducing the costs of testing and use, authorisation or restriction of  A nationwide awareness building on of India’s EXIM container market with chemical exporting countries in the diversifying supply chain sources, lead-
the access of data, especially for chemicals placed in India. A more emerging regulations and a support a total installed handling capacity of world. India exports organic and inor- ing businesses worldwide to reshape
deve-loping countries. Contribution detailed registration system for new system should be developed jointly 6-million TEUs per annum. ganic chemicals to 175 countries such their operations for resilience through
and commitment by the private sec- chemicals may be established. by the Government and the industry as China, USA, Brazil, Netherlands, reshoring or nearshoring. The global
tor towards developing the testing  India should consider adopting the for handholding members for com- In this interview (conducted by Saudi Arabia, Indonesia, UAE, Japan, suppliers and domestic businesses who
capacity is essential; however, UN-GHS and play an active role in pliance and resolving issues. email) Mr. Ranjit Ray, Head of Eco- Germany, etc. The industry also started are more focussed on exports will start
governments should provide incen- ensuring its classifi cation is based nomic Zones, Middle East, North exporting to markets like Turkey, looking at the value of logistics and
tives such as tax breaks and grants on robust risk evaluation processes. The detailed proceedings of deli- Africa and India Subcontinent, DP Russia and Northeast Asian countries this is where Free Trade Warehousing
to sustain these efforts. Acceptance of Safety Data Sheets berations and recommendations are World,, discusses the role Free Trade namely Hong Kong, Japan, Korea RP, Zones like Nhava Sheva Business Park
 Global bodies and Conference of (SDS) could become diffi cult if not available on the ACF website at https:// Warehousing Zones (FTWZs) can play Taiwan, Macao, and Mongolia. During (NSBP) play a key role as safety net for
Parties (where they exist) should aligned with the GHS requirements. asianchemicalsforum.com/. in strengthening supply chain resili- 2020-21, China was the largest im- the suppliers.

Chemical Weekly | Import-Export Data Market Surveys ence for the chemicals industry. The porter of chemicals from India, valued
discussion is within the context of the at US$2.4-bn followed by USA with How do you see India’s chemical
Directories Business Forums | Expositions Comprehensive Economic Partnership imports of US$2.2-bn. In FY20-23, industry shaping up in the years
Agreement (CEPA) between India and exports of chemicals and petroleum ahead?
The only organisation in India catering exclusively to the needs of the entire chemical industry the UAE, which is expected to give a products stood at US$21.21-bn. With
Contact: further boost to the bilateral trade bet- India being the third largest chemicals Over the past few years, the chemi-
producer in Asia, the industry has great cals industry has surpassed expecta-
ween the two countries.
SEVAK PUBLICATIONS PVT. LTD. growth potential in a re-globalised tions, outperforming not just the overall
602-B, Godrej Coliseum, K.J. Somaiya Hospital Road, Chemical Weekly: Can you provide world. equity market but also its upstream and
Behind Everard Nagar, Sion (E), Mumbai 400 022. an overall picture of trade between downstream industries. What’s more
Phone: +91-22-24044471 / 72 Email: admin@chemicalweekly.com the UAE and India, and the share of India and the UAE have shared exciting is that this upward trajectory
chemicals? strong trade relations over the past is projected to continue in the coming

182 Chemical Weekly October 17, 2023 Chemical Weekly October 17, 2023 183

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