Union Chemicals and Fertilizers Minister, Jagat Prakash Nadda, mentioned that the government is committed to implementing necessary policy interventions to tackle challenges in the chemicals and petrochemicals sector and to stimulate its growth. The statement was made during the launch of the 13th edition of India Chem 2024, scheduled to take place in Mumbai in October.
Nadda emphasized the government’s objective of achieving a $5 trillion economy. He stressed the importance of aligning policies and programs to ensure the chemicals and petrochemicals industry contributes significantly to this goal.
He urged the industry to concentrate on reducing imports, enhancing research and development, and improving skills. The minister also launched the brochure for India Chem 2024.
Nadda highlighted that the theme for India Chem 2024, “Advantage Bharat: Indian Chemicals and Petrochemicals Paving the Future,” aligns with the vision of making India a $5 trillion economy. The event will be held from October 17th to 19th in Mumbai.
The minister reiterated the government’s commitment to the industry’s growth, mentioning numerous structural reforms initiated to support industrial development and strengthen the chemical sector.
Anupriya Patel, minister of state for chemicals and fertilizers, emphasized the crucial role of the chemical and petrochemical sector in the economic development of key industries like automotive, construction, electronics, healthcare, textiles, and FMCGs.
As reported by newindianexpress.com, Patel highlighted India’s status as the second-largest exporter of chemical dyes, dyestuffs, and agrochemicals globally, contributing about three percent of global chemical sales. The Indian chemical industry, currently valued at $220 billion, is expected to reach $300 billion by 2030 and $1 trillion by 2040.
