- The Make in India programme has placed India as a manufacturing hub and a best destination for global investment, said Dr Mandaviya
- India is all set to become the most potential chemicals and petrochemicals manufacturing hub in the world, said Bhagwanth Khuba
New Delhi: Dr Mansukh Mandaviya, Union Minister for Chemicals and Fertilizers, said on Thursday that the world is ready to partner with India and globally business leaders remain confident in India’s prospects and are making strategies to invest in the country as the government aims to make the country a chemical and petrochemical manufacturing hub. Addressing the 2nd Edition Summit on India: Global Chemicals and Petrochemicals Manufacturing Hubs 2021, (GCPMH 2021) organised by FICCI, he said concentrated efforts by India to fortify the business and encourage investment in the trade have helped to attract investment, but the country needs further economic reforms to ensure sustainable inclusive growth.
“Chemicals and Petrochemicals have played a vital role in society for decades and the focus is now on how to reduce the carbon footprint of the chemical industry and make the atmosphere pollution free,” added Dr Mandaviya.
‘Govt wants to make India a global investment hub’
He further added that the government has launched the PLI scheme for different sectors which will directly or indirectly benefit the chemicals sector. The PLI schemes on pharmaceuticals, automobile, textile, and telecommunication sector worth Rs 2 lakh crore each was targeted towards boosting the industries and making India an investment hub globally, said the minister.
Speaking on the reforms, Dr Mandaviya said, “The PLI scheme will benefit our entrepreneurs and we must encash the opportunities provided by the PLI scheme.”
Projecting the government as industry-friendly, he said, to develop as a nation, India needs industrial development. “The tax paid by industrialists are used for the benefit of the poor so the wealth creators must be respected,” said the minister. The Make in India programme has placed India as a manufacturing hub and a best destination for global investment, said Dr Mandaviya.
India as a chemical, petrochemical manufacturing hub
Bhagwanth Khuba, Minister of State for Chemicals and fertilizers, said that industry leaders across the globe are considering investing in India with a positive outlook. In the post-COVID scenario, he said, India is all set to become the most potential chemicals and petrochemicals manufacturing hub in the world.
Yogendra Tripathi, Secretary, Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers said, in a rule-based transparent system, opportunities for foreign investment and rewards on the investments are huge. India is emerging as an attractive and durable investment destination and manufacturing is a major growth sector for Indian economy. He also stated that the chemical industry is a significant contributor to the manufacturing sector and economic growth.
Samir Kumar Biswas, Additional Secretary (Chemicals), Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers, said that the past decade belonged to Southeast Asian countries, but this is the time for India to take the position and showcase its talent.
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