India unveils its Chemical Inventory Platform

In a significant step towards enhancing transparency and efficiency in the chemical and petrochemical sector, the Department of Chemicals and Petrochemicals (DCPC), Government of India, is in the process of launching the Indian Chemical Inventory through its platform, ChemIndia. This platform, which is set to redefine the industry landscape, aims to facilitate the requirements of the chemical and petrochemical industries while collecting vital statistics on production, capacity, exports, imports, purchases, sales, and various chemical properties. 

Comprehensive Chemical Inventory 

The primary objective of compiling this database is to create a comprehensive chemical inventory that includes all pertinent information related to the sector. As part of this initiative, the DCPC has mandated the inclusion of additional qualifiers, such as CAS and IUPAC names in addition to the Harmonized System (HS) codes, for import-export data. This requirement, effective from 15 October 2023, applies to imports falling under Chapters 28, 29, 32, 38 (3808 only) and 39 for all bills of entry filed on or after 1 October 2023. More details on these requirements can be found here). 

Empowering Industries Through the Indian Chemical Inventory 

The Indian Chemical Inventory is as a testament to the DCPC's commitment to revolutionise data management in the chemical industry. This ambitious project provides real-time data collection, analysis, and compilation from the chemicals and petrochemical industry, presented on a monthly/annual basis. By streamlining data collection and storage, the Indian Chemical Inventory drastically reduces the cost, time, and administrative burden associated with manual processes. 

Benefits  

The Indian Chemical Inventory initiative is a significant development in providing access to information based on geographical location, enabling rapid decision making and responses based on current market knowledge. The focus is on improving accuracy and efficiency in managing and interpreting data, promoting knowledge generation, and encouraging innovation within the industry. It will enable researchers and various stakeholders to carry out effective research and analysis. In addition, this inventory would provide valuable data insights to policy makers at national and regional levels, promoting collaboration and partnerships within the chemical sector ecosystem. Additionally, there's a shift towards the use of cutting-edge technologies for data collection, analysis, and storage, allowing remote data entry, monitoring, and analysis.  

Features  

Key features of this platform include: A GIS Dashboards that provide location-based insights through interactive data visualisations, ensuring fast and intuitive analysis.  It also provides real-time data availability, enabling rapid access for in-depth analysis and making it a valuable asset for businesses, researchers, and policy makers.  

In addition, the Indian Chemical Inventory serves as a hub for sharing research material and data, promoting collaboration among industry stakeholders and facilitating industrial policy development. Leveraging advanced technologies such as artificial intelligence, machine learning, and big data analytics, the Inventory enhances data processing capabilities, enabling detailed analysis of hazard classifications, exposure routes, and environmental impacts. It also provides a systematic overview of the industry, enabling companies to make informed decisions and strategic plans for sustainable growth.  

More information on how to use this Platform can be found here. 

If you have any questions, please write a message to our team via this email: indiareg@gpcregulatory.com