The Indian Chemical industry has become a global player and earns foreign exchange for the nation with the “Make in India, Make for World” approach: Dr Mansukh Mandaviya
Union Minister for Chemicals & Fertilizers and Health & Family Welfare, Dr Mansukh Mandaviya launched Plastindia 2023-11th International Plastic Exhibition & Conference in the presence of Union Minister of State for Chemicals & Fertilizers and MNRE, Shri Bhagwanth Khuba. Senior officials of the Ministry of Chemicals & Fertilizers and industry representatives were also present at the meeting.
Addressing the event, Dr Mansukh Mandaviya stated that “these exhibitions are important because they will attract international plastic players to the country and provide a platform to learn and exchange ideas and technology”.He noted that the government is not only pro-poor but also industry-friendly as industrial growth promotes wealth creation and is important for generating employment and Nation building.
The Union minister highlighted that “India’s Petrochemical Industries has been one of the fastest-growing industries in the Indian economy with high demand growth. India is projected to contribute more than 10% of the incremental global growth in Petrochemicals over the next decades”. However, amidst the Petrochemical growth globally, volatility, significant Import dependency and attractive demand growth have been the primary reasons for which India needs Petrochemical assets to meet the domestic and global demand, he added.
“Govt is not only pro-poor but also industry-friendly since industrialists are wealth creators and are important for nation-building”: Dr Mandaviya
The Union Minister further stressed that although import dependency of the country has reduced, there is a need for a holistic approach to creating an atmosphere for the industrialists to be able to compete globally. He suggested the need to create a roadmap for the plastic industry for long term policy support, investment as well as export promotion.
Highlighting the achievements of the Chemicals sector in the country, the Union Minister said that today Indian Chemical industry has become a global player and earns foreign exchange for the nation with the “Make in India, Make for World” approach. Exports of Indian Chemicals have registered growth of 106% in 2021-22 over 2013-14. This export growth in the chemical sector would be a boost to our Hon’ble Prime Minister, Shri Narendra Modi Ji’s Atma Nirbhar Bharat Abhiyan