Mumbai, October. 5, 2018: India’s chemical industry is an important enabler of the growth in India and is projected to reach USD $300 billion by 2025 at a compounded annual growth rate of 8-10%, according to reports. “We at SABIC look forward to being a part of this growth journey,” said Mr. Yousef Abdullah Al-Benyan, Vice Chairman and CEO, SABIC.
 
“India and Saudi Arabia are nations on the move. We both have economies with enormous potential. This potential is being unlocked by two new visions that represent the hopes and aspirations of the people in India and of Saudi Arabia – the Saudi Vision 2030 andHon’ble Prime Minister Narendra Modi’s vision of ‘New India 2022”, he said at his keynote address at the inaugural session of India Chem 2018 - 10th Biennial International Exhibition & Conference in Mumbai.
 
The inaugural address was in the presence of Shri. Nitin Gadkari, Hon’ble Minister, Ministry of Road Transport & Highways, Ministry of Shipping, Ministry of Water Resources, River Development and Ganga Rejuvenation, Govt. of India; and Mr. P Raghavendra Rao, Secretary, Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers, Govt. of India, among other senior industry leaders.
 

 
Mr. Al-Benyan further indicated that SABIC continues to contribute significantly towards Indian Government’s agenda of Make in India, through innovation and technology. “SABIC takes pride in the partnership with the Government and continues to leverage its global experience and world-class infrastructure towards building a strong Petrochemical ecosystem in India,” he added.
 
SABIC in India covers all three of the company’s Strategic Business Units – Petrochemicals – including chemicals and polymers -- Agri-Nutrients, and Specialties.
 
“We are very much aligned with the motto of ‘Make in India’.” Mr. Al-Benyan shared his suggestions on how future challenges could be addressed with sustainable growth that includes:

 

“Petrochemical are essential to the production of all of these products. It is only by preparing for this emerging marketplace that we can grow sustainably and create value for India and for the world.” 

SABIC in India is aligned with the Government in regards to the sustainability vision and is collectively making positive progress. With an investment of more than USD $100 million in the Technology & Innovation Center in Bengaluru - one of the largest investments in India by a Saudi company, the focus has been to build  research competencies to support growing market needs in India and SABIC worldwide.The Bengaluru center comprises of more than 300+ research scientists and engineers driving innovation and highest sustainable standards in manufacturing for India and for the world.
 
SABIC in India has also collaborated with country’s premier Government institutions like the Central Institute of Plastics Engineering and Technology and the Council of Scientific and Industrial Research to make positive progress together.


Mr. Yousef Al-Benyan, VC & CEO, SABIC addresses key government stakeholders and industry leaders on strategic business ties between India and Saudi Arabia, and SABIC’s commitment to the market, during his maiden visit to India, at the IndiaChem 2018, in Mumbai.

Mr.Yousef Al-Benyan, VC & CEO, SABIC, along with Mr. Nitin Gadkari, Hon’ble Minister, Ministry of Road Transport & Highways, Ministry of Shipping, Ministry of Water Resources, River Development and Ganga Rejuvenation, Govt. of India; Mr. P Raghavendra Rao, Secretary, Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers, Govt. of India, and other senior industry leaders, at the inaugural session of IndiaChem2018, in Mumbai.

Mr.Yousef Al-Benyan, VC & CEO, SABIC greets Mr. Nitin Gadkari, Hon’ble Minister, Ministry of Road Transport & Highways, Ministry of Shipping, Ministry of Water Resources, River Development and Ganga Rejuvenation, Govt. of India, at the SABIC booth to demonstrate our innovation, during the IndiaChem 2018, in Mumbai