Susanta Kumar Purohit, Joint Secretary of the Department of Chemicals and Petrochemicals, Government of India, announced that India’s chemical industry, growing at a rate of 9.3% annually, is expected to attract investments totaling Rs 8 lakh crore by 2025. Speaking at a national conference on chemicals organized by the Gujarat Chemical Association in Ahmedabad, Purohit highlighted the industry’s robust growth, projecting a rise from USD 178 billion in 2019 to USD 304 billion by 2025.
“The chemical industry is growing at a rate of 9.3%, and with the kind of demand forecasted, our growth rate will be more in times to come,” stated Purohit during the conference. He emphasized the significant potential for investment in the sector, reflecting the increasing demand for chemical products.
Gujarat, home to over 11,000 chemical units, plays a pivotal role in India’s chemical production, contributing to more than 50% of major chemicals manufactured in the country. Purohit highlighted the specialty chemicals sector as a key driver of future growth, noting that it is poised to expand at a faster pace. “The specialty chemicals industry is expecting a growth target of 12.5%, which is higher than that of the chemical industry growth,” he added.
The positive outlook for the chemical industry underscores the increasing importance of India as a major player in the global chemical market. The projected investments signal confidence in the sector’s potential for expansion and technological advancement.
