Suryaa Business Desk: Union government is clear on the future of India's fastest growing chemicals and petrochemicals sector... Union government has announced a clear roadmap for the future of India's fastest growing chemicals and petrochemicals sector. Union Minister for Health, Chemicals and Fertilizers J. P. Nadda was the chief guest and delivered the keynote speech.
He wished that this sunrise sector, which is the backbone of the country's economic growth, would grow into a world-class hub in the near future. J.P. said that the central government aims to expand the chemicals and petrochemicals sector, which currently has a market size of about 220 billion dollars, to one trillion dollars by 2040 and to about 1.6 trillion dollars by 2047. Nadda clarified. He opined that these industrial sectors will play a crucial and irreplaceable role in achieving the goal of Vikasit Bharat 2047.
He called upon industries to come forward to compete internationally along with strengthening domestic manufacturing sector. The participation of Japan as a participating country in this international conference is a proof of the strong trade relationship between the two countries. Representatives of Japan, America, Canada, Britain, European Union and Asian countries participated in the forums of CEOs of various countries organized on this platform. Experts believe that new technologies, influx of investment and discussions with industrial giants on designing better supply systems will give further impetus to the sector in the future.
