India's Journey Towards Chemical Independence: Minister Nadda's Call for Sustainable Growth
Key Ideas
  • Minister Nadda emphasizes the need to reduce reliance on imported feedstocks in India's chemical industry by exploring alternatives like biomass, plastic waste, and green hydrogen.
  • India aims to lead globally in sustainable practices, transitioning to greener technologies, and integrating circular economy principles to reduce environmental impact.
  • The chemical and petrochemical industry in India, currently valued at $220 billion, is expected to grow to $300 billion by 2028 and $1 trillion by 2040, with support from government initiatives like Make-in-India and infrastructure development programs.
  • Initiatives like PM Gati Shakti and industry corridors in Gujarat and Odisha attract substantial investments, aiming to enhance India's global competitiveness in the chemicals and petrochemicals sector.
Union Minister J P Nadda of Chemicals and Fertilizers in India highlighted the importance of the country's chemical and petrochemical industry, stressing the need to address the challenge of reliance on imported feedstocks. Speaking at the India Chem 2024 event, Nadda called for exploring alternative feedstocks like biomass, plastic waste, and green hydrogen while expanding domestic sources of natural gas and coal. He mentioned that embracing sustainability and innovation is crucial for the industry's future, aiming to align with global trends towards greener technologies and circular economy principles. The minister outlined how initiatives like Make-in-India and national industry corridors, along with investments in regions like Gujarat and Odisha, are driving growth in the sector, which is projected to reach $1 trillion by 2040. Nadda also highlighted the importance of infrastructure development programs like PM Gati Shakti in enhancing India's global competitiveness in chemicals and petrochemicals. Emphasizing the role of innovation and research, he stated that collaboration between government, industry, and academia is key to India's leadership in the field by 2047, realizing the vision of a self-reliant and sustainable India.
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