New Delhi [India]: Union Minister for Chemicals and Fertilisers J. P. Nadda has said that India aims to develop a one-trillion-dollar chemicals market by 2040. Inaugurating the 14th edition of India Chem 2026 at the Bombay Exhibition Centre, NESCO, in Mumbai today, he said a favourable environment is emerging in the country for the growth of the chemicals and petrochemicals sector. He added that clear policies, government support and positive industry participation are opening up new opportunities for investment and growth in the sector.
Mr. Nadda said that under the government’s proposed ‘Bhavya Rasayan’ scheme, the Centre would provide one thousand crore rupees for each chemical park, while the concerned state would have to contribute a minimum of 500 crore rupees. He said the development of world-class infrastructure, including port, rail, air and road connectivity, would be crucial to the selection and success of these parks.
Maharashtra Chief Minister Devendra Fadnavis said the chemicals and petrochemicals sector could make a significant contribution towards achieving the goal of making Maharashtra a one-trillion-dollar economy. He added that the sector already provides employment to three lakh people in the state.
Union Minister of State for Chemicals and Fertilisers, and Health and Family Welfare, Anupriya Patel said the Central Government is committed to promoting the growth of the chemicals and petrochemicals sector through policy support, streamlined regulations and infrastructure development.
Madhya Pradesh Chief Minister Mohan Yadav, Odisha Chief Minister Mohan Charan Majhi and senior officials from the Central and state governments were also present at the event. The theme of the 14th edition of India Chem is “Advantage Bharat: An Emerging Global Chemicals Hub”. The 3- day event will conclude on Saturday.
[AIR News]