D. V. Sadananda Gowda , Union Minister of Chemicals & Fertilizers, inaugurated the 11th Edition of India Chem 2021 in New Delhi with the theme India: Global Manufacturing hub for
chemicals and petrochemicals. He stated that the Indian chemicals and petrochemicals industry is on the rise to new heights, and informed that an investment of Rs 8 lakh crore is anticipated in the segment by 2025.
Throughout his speech, Sadananda Gowda also appreciated that Department and FICCI has organised the event. He added that the development in the chemical and petrochemicals industry is also contributing to the Prime Minister's apparition of Atmanirbhar Bharat.
He explained that Government has launched 12 PLI scheme for different sectors which will directly or indirectly benefit the chemicals sector. He also said that the Government is prioritising the sector and in the Budget 2021-21, the import duty on Naphtha has been reduced from 4.0% to 2.5%.