Global Chemical industries are currently faced with more and more complex regulatory environment including the REACH directive of EU, however, the chemical industries is amid the most highly regulated industries in the world and for good reason. In one of the recent conference that was held in Mumbai by Confederation of Indian Industry (CII) had highlighted few challenges that are mostly faced by the Indian chemical Industries when it comes to sever the international markets owing to several regulations and standards that need to be act in accordance with.
Many chemicals that are released by the industry factory are toxic to human body and have an adverse impact on the environment if they do not release the chemical without any treatment. These released chemical deceit a peril which needs to be managed through appropriate strategies that will minimise exposure and risk. However, the problem is complex and in this region the solutions need to be customized to factor in the maturity and the development of the industry.
Well developed parts of the world such as Western Europe, Japan, United States, Korea and many such countries have substantial chemical industries which have enforced tight laws governing both the kinds of chemicals which can be formed and used as well as the operations of chemical plants. REACH which has been enacted by the European Union (EU) as the most comprehensive and complex legislation is also an unprecedented in its scope and intricacy. It also governs substances manufactured or imported into the EU used surplus of more than 1 tonne annually in the region.
To emphasis on safety of the product, nowadays a trend towards product safety rather than process safety has been adopted by most of the chemical industries. In the instantaneous years in India, a lot of attention of regulators shifted rightly to process safety, to ensure safe operations of plants after the Bhopal gas tragedy that took place in the year 1984. Most of the chemical industries in the developed world have bemoaned on the regulations and laws that are imperious and sternly compromise their ability to compete, whereas, after evaluating the associated costs against the business gains projected, few major Indian chemical industries have reluctantly taken on the burden of registration in exporting to the developed world.
Aside of laws that preside over discharge of wastes into the air, water or land, Indian market are so far begin focused by the chemical industries that have had little or no local regulations to deal with, moreover, to authorize their use on the grounds of safety there are so far no over arching regulations that restrict the use chemicals in specific applications or mechanisms.
Furthermore, as per the researched analyst India is noted as one of the few countries in the world that has a substantial chemical industry, however, in commerce it is yet to have a national inventory of chemicals. Consequently, it is still fragmented in the global chemical regulatory landscape as well as inclusive harmonization is yet a delusion for the global chemical industry and is expected to prolong for a while.
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