India's Chemical Industry: Driving Towards a Sustainable Future

India's chemicals and petrochemicals industry is crucial for the country's economy. With a focus on sustainability, reducing reliance on imports, and embracing innovation, the sector aims to grow from USD 220 billion to USD 1 trillion by 2040, boosting competitiveness and promoting sustainable practices.

Union Minister J P Nadda emphasized the fundamental role of India's chemicals and petrochemicals industry in the national economy at the India Chem 2024 conference. He stressed the need to reduce dependence on imported feedstocks, promoting alternative sources like biomass and green hydrogen.

The event, themed 'Advantage BHARAT,' highlighted the importance of innovation and sustainability. Nadda advocated for the adoption of greener technologies and practices, projecting the industry's value to increase significantly, reaching USD 1 trillion by 2040 while embracing circular economy principles.

Ministers and industry leaders underscored the potential of India's chemical industry to become a global hub through favorable policies and investments. They called for advancing infrastructure and policies to support industry growth and sustainability, aligning with global ecological trends and boosting India's competitive edge.

(With inputs from agencies.)