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For a consistent supply of High Purity Grade

INDIA CHEM-2024

‘India’s chemical industry well set to surpass $300-bn by 2028’

India’s chemical industry is projected Focus on circular economy
to surpass $300-bn by 2028 and is well Ms. Anupriya Patel, Minister of
poised to reach the $1-trillion mark State for Health & Family Welfare, and
by 2040, according to Mr. J.P. Nadda, Chemicals & Fertilizers, Government
Union Minister for Health & Family of India, observed that over the past de-
Welfare, and Chemicals & Fertilizers, cade, the chemicals sector has attracted
Government of India. $12.48-bn in investments. She stressed
the importance of trade with the Nether-
Speaking at the inauguration of the lands, in particular, noting the country’s
three-day ‘India Chem-2024’ exhibi- leading position in technologies for a
tion and conference, held in Mumbai circular economy.
from November 17-19, in the presence
of the Chief Ministers of Gujarat, Madhya Ms. Nivedita Shukla Verma, Secre-
Pradesh and Odisha, Mr. Nadda tary, Department of Chemicals &
added that the sector will play a key Petrochemicals (DCPC), Government
role in realising the goal of ‘Viksit- of India, pointed to the several start-up
Bharat@2047’. initiatives, especially in the context of
leadership in exports of chemicals, and bio-based chemicals and waste man-
Mr. Nadda emphasised the impor- referred to the State Government’s ef- agement. She also referred to several
tance of reducing reliance on imported forts to establish India as a leading des- policy initiatives undertaken by the
feedstocks and focusing on alterna- tination for the industry. DCPC such as the setting up of Centres
tives, while ensuring that India leads of Excellence, and a portal that aims to
the global shift toward greener tech- Mr. Mohan Charan Majhi, Chief increase collaborations between indus-
nologies. He noted that sustainability Minister of Odisha, highlighted Odisha’s try and academia by cataloguing tech-
is the future of the industry and that strategic position as a rising hub for the nologies available or under develop-
India must take the lead in the adoption chemical industry thanks to the avail- ment. “We are evaluating how the funds
of circular economy principles. Refer- ability abundant natural resources, available under the National Research
ring to the need for more emphasis on strong infrastructure and highly skilled Foundation (NRF) can be allocated to
R&D, safety and skilling, he elabo- workforce. the chemicals sector,” she added.
rated upon the steps being taken by the
Government to boost innovation and Mr. Mohan Yadav, Chief Minister Mr. Hardeep Singh Puri, Minister of
investment. of Madhya Pradesh, highlighted the Petroleum & Natural Gas, Government
efforts being made by the State Govern- of India, also stressed the importance
States welcome investments ment to further boost development of of adopting advanced technologies and
Mr. Bhupendra Patel, Chief Minister the chemicals sector and create more sustainable practices to enhance effi -
of Gujarat, touched upon on Gujarat’s employment opportunities. ciency while reducing environmental
impacts.

Public sector undertakings like
ONGC, IOC, HPCL, BPCL, GAIL,
and private players like Haldia Petro-
chemicals Ltd., he added, are commit-
ted to signifi cant investments, which STAR EXPORT HOUSE
will increase the country’s petrochemi- GOVERNMENT RECOGNISED
cals capacity from 29.62-mtpa to
46-mtpa by 2030. To further speed up
growth, the Minister encouraged the

130 Chemical Weekly October 29, 2024 Chemical Weekly October 29, 2024 131

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