Silver Jubilee Conference of NLGI-IC discusses new possibilities in grease industry

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Silver Jubilee Conference of NLGI-IC discusses new possibilities in grease industry

Silver Jubilee Conference of NLGI-IC.

Silver Jubilee Conference of NLGI-IC.

New Delhi: Greece industry is an important component of the economy. National Lubrication Grease Institute – India Chapter is organizing a three-day conference at Grand Hyatt Gurugram dedicated to the growth and prospects of the grease industry in India. On Friday, March 3, the Honorable Minister of Petroleum and Natural Gas Shri Hardeep Singh Puri inaugurated the conference. The theme of the conference being held under the chairmanship of Mr. Sudhir Sachdeva, Chairman, Siddhartha Grease & Lubes and Mr. SSV Ramkumar, President, NLGI-India Chapter, is ‘New Frontiers in Grease Industry – Moving Towards Net Zero’.

On the occasion of inauguration, Union Minister Hardeep Puri said that under the leadership of Prime Minister Narendra Modi, the country is on the path of continuous development. He said that we are among the fastest growing major economies. The Greece industry will make an important contribution towards fulfilling the Prime Minister’s goal of developing the country as a manufacturing hub and making it self-reliant. During the inaugural programme, Mr. Sudhir Sachdeva said that we want inclusive growth of grease industry. The conference is attended by respected personalities from the grease industry from across the globe. The grease market in India is estimated at 1.8 Lakh Tonnes annually and is expected to grow at 4% CAGR year-on-year to reach 2.5 Lakh Tonnes by 2030.

The Indian government’s focus on infrastructure development is very important in increasing the demand for grease, as it plays a vital role in the lubrication of all types of earth moving equipment. The mining and construction industry is projected to grow at a CAGR of 10% over the next 10 years. The Pradhan Mantri Gati Shakti National Master Plan aims to revolutionize infrastructure in India with an investment of Rs 100 lakh crore. All these steps on the path of development will contribute to the development of the grease industry. These possibilities were discussed in various sessions of the conference. The very first day saw a panel discussion on Global Grease & Lubricant Industry Scenario & Future Outlook. The session was chaired and moderated by Dr. RK Malhotra, former Chairman Indian Oil and Director General FIPI. A plenary session was also held on the burning global issues of Global Warming and Sustainability.

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