Union Minister of Chemicals and Fertilizers D V Sadananda Gowda on Wednesday (17 March) informed that investments worth Rs 8 lakh crore worth are in the pipeline in Indian chemical industry by 2025, the ministry Ministry of Chemicals and Fertilizers said on Wednesday (17 March).
Inaugurating the 11th Edition of India Chem 2021 in New Delhi with the theme “India: Global Manufacturing hub for chemicals and petrochemicals”, Gowda said that the Indian chemicals and petrochemicals industry is growing to new heights, and informed that an investment of Rs 8 lakh crore is anticipated in the sector by 2025.
During his speech, Gowda also lauded the Department and FICCI for organising the event.
He added that the growth in the chemical and petrochemicals industry is also contributing to the Prime Minister’s vision of Atmanirbhar Bharat.
Gowda further informed that government has launched 12 PLI scheme for different sectors which will directly or indirectly benefit the chemicals sector.
He also stated that the government is prioritising the sector and in the Budget, the import duty on Naphtha has been reduced from 4.0 per cent to 2.5 per cent.
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