Taskforce's vision statement emphasises on developing a global outlook for the Indian Chemical Industry.

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Chapter 5: Vision for the Future

5.1 As seen from the earlier chapters, Indian Chemical Industry is at crossroads. While it has demonstrated its capability to emerge as a global player in some segments, its survival is under threat in others. The Task Force felt confidant that it is possible not only to ensure the survival of the industry but also to plot a major role for this industry based on its potential. Keeping in mind the competitive advantages for the future growth of this industry in India, the Task Force articulated the following vision for this industry for the year 2010.

To become a manufacturer / supplier of value added chemicals operating with capacities designed to competitively cater to a significant share of the global requirement. To make India an attractive investment destination as well as a partner in mutually beneficial strategic alliances seeking above all ecofriendly technologies and commitment to responsible care.

In specific terms this vision statement translates into the following.

Developing a global outlook:- Indian Chemical Industry would reorient its thinking from "Guarding the domestic market" to "Enlarging its share of the global market".

World scale capacities:- The presently fragmented segments of the industry would restructure themselves into units which attain economies of scale and are comparable with the best in the world. This exercise of consolidation would include integration for value addition as well.

Mutually beneficial strategic alliances:- Indian industry ties up with feedstock rich countries in the Middle East / Russia and CIS, technology rich countries in the West and Asia and Investors worldwide with a view to leverage its core competence in process engineering, value addition and natural resources through Joint ventures, Contract manufacturing arrangements, special purpose vehicles R & D collaboration and other means to create enduring mutually beneficial strategic alliances.

Responsible care:- The industry recognizes that "Ethics, Aesthetics and Economics" go hand in hand. This presupposes a commitment to Responsible care and concern for workers' health and safety and value for the consumers. Responsiveness would also extend to the concern for environment.

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