Guest speakers: G D. Professor Yadav; S. Sriram, general manager of research and development of HP green research and development center; Professor Dr. R. K. khandal, President of R & D and business development, ethylene glycol India Limited; Bijal mathkar, director of research and innovation, Solvay research and innovation center, India; R. Subramanian, chief QA of Bharat Petroleum Corporation Ltd; Pravin Prashant, editor of Indian Chemical News

Indian Chemical News (ICN), the most trusted online media platform in the chemical, petrochemical and energy fields, will hold a virtual conference on "research and development: new sustainable materials for the chemical and petrochemical industry" at the second "next generation chemical and petrochemical summit" on July 21, 2022.

The two-day virtual summit was held from July 21 to 22, 2022, with the theme of "promoting sustainable growth". A delegate registered as a virtual session.

The speakers of the virtual conference are: G D. Professor Yadav; S. Sriram, general manager of research and development of HP green research and development center; Professor Dr. R. K. khandal, President of R & D and business development, ethylene glycol India Limited; Bijal mathkar, director of research and innovation, Solvay research and innovation center, India; R. Subramanian, chief quality officer of Bharat oil company, was hosted by pravin Prashant, editor of Indian chemical news.

Research and development (r&d) is the most important factor in the growth of chemical industry. The global chemical industry invests more than US $51billion in R & D every year to keep costs low by developing more effective new products and service processes.

Multinational companies' investment in R & D accounts for 9-10% of their total turnover, while Indian chemical companies' investment in R & D is still between 2-3%. India ranks seventh with us $2billion in R & D investment. The Indian chemical industry needs to invest heavily in research and development to become a leading player in the international chemical market.

Pravin Prashant, editor of Indian chemical news, said: "with the rapid development of all fields of the industry, it is necessary to change from the process of laboratory based discovery and development of new chemicals to a new business model driven by digital ecosystem, and combine products and services with the support of technology."

Industry is witnessing the rise of open digital platforms used in material informatics. Industry also needs to develop new capabilities in areas such as sustainable development and circular economy. In order to achieve this, enterprises will have to rethink their innovation strategy. Prashant added that innovation is crucial to the success of a chemical company and the establishment of a sustainable competitive advantage.

The key discussion contents of this R & D meeting are: the development of new sustainable materials in chemical and petrochemical industries; Integrate capabilities to drive long-term value; Digital methods to solve material challenges; Promote the synergy between industry and academia; Strengthening India's patent inventory; Provide guidance for sustainable materials / green chemistry startups.