Launch of ChemIndia – Indian Chemical Inventory
The Department of Chemicals and Petrochemicals (DCPC), Govt. of India is in process of launching Indian Chemical Inventory which will facilitate the requirement of chemical and petrochemical industries; collection of statistics pertaining to various aspects of the chemical sector, such as production, installed capacity, exports, imports, purchases, sales and some characteristics of chemicals. The main objective of compiling this data is to create a comprehensive chemical inventory that covers all the relevant information about the chemical sector.
The DCPC plans to utilize the import-export data and therefore has requested companies to share the additional qualifiers CAS and IUPAC name along side the HS code, and its made mandatory (w.e.f 15th Oct. 2023). Additional qualifiers shall be mandatory for imports under the said chapters thatare all CTHs of CHAPTER-28, 29, 32, 38 (3808 only), 39 for all bills of entry filedon or after 01.10.2023.
What is Indian Chemicals inventory?
- ChemIndia is one of the major ambitious project of Department of Chemicals & Petro-chemicals.
- The objective of the project is to collect, compile & analysis of real time data, received from the Chemicals and Petro-chemicals Industry.
- The requisite data shall be available on monthly/annual basis.
- It will reduce the expenses, time, and administrative work involved with manual data gathering and storage.
- This platform includes GIS Dashboards, which allow users to deliver location-based insights using simple, interactive data visualisations on a single screen.
- It will make real-time data collection easier, ensuring quick information availability for analysis.
- It's an outlet for the growing need to make research material and data easy to share and re-use for the industrial policy building.
- This platform allows the overall consolidation of data at one place covering PAN India industries/units.
- It’s an intuitive interface that makes it simple for businesses organisation to access and provide data.
- This makes it possible to analyse data on things like the substance(s) hazardous classification, important exposure routes, environmental exposure, and more.
- It will improve data processing capabilities, incorporates contemporary tools including Artificial Intelligence, Machine Learning, and Big Data Analytics.
- It offers a glimpse into the future and a mental map for potential plans based on the systematic reporting.
What are the Benefits of Indian Chemicals Inventory?:
- Assures a complete understanding of the performance and trends of the sector.
- Availability of information on geographical base.
- Encourages quick decisions and quick responses based on current market insights.
- To increase accuracy and efficiency in managing and interpreting data.
- To encourage knowledge generation and innovation in the Chemicals and Petro- chemicals Industry.
- To facilitate informed decision-making at the national and regional levels by offering useful data insights to policymakers in the chemical industry.
- To promote collaboration and partnerships throughout the ecosystem of the chemical sector.
- Moving away from a simple web based window application to cutting-edge technologies for data accumulation, analysis and storage.
- To allow remote data entry, monitoring and analysis.
- To support researcher and various stakeholders to conduct research and analysis.
