India needs economic reforms to reduce carbon footprint of chemical industry: Dr Mansukh Mandaviya

Dr Mansukh Mandaviya, Union Minister of Health & Family Welfare and Minister of Chemicals & Fertilizers, Govt of India said that the world is ready to partner with India and global business leaders remain confident in India's prospects and are making strategies to invest in the country.

Addressing the 2nd Edition Summit on India: Global Chemicals & 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.

Union Minister of Health & Family Welfare and Minister of Chemicals & Fertilizers was speaking at 2nd Edition Summit on India: GCPMH 2021

"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.

Bhagwanth Khuba, Minister of State, Ministry of Chemicals & fertilisers and Minister of State, Ministry of New & Renewable Energy, said that the 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 potent chemicals and petrochemicals manufacturing hub in the world.

Yogendra Tripathi, Secretary, Department of Chemicals & 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 the 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 & Petrochemicals, Ministry of Chemicals and Fertilizers, Govt of India 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.

Prabh Das, Chairman, FICCI Petrochemicals Committee and MD & CEO, HMEL Mittal Ltd said to achieve the dream of self-reliant India a renewed focus on the critical sector of chemical and petrochemical is essential to capitalise on the tremendous opportunities in the Indian economy.

Deepak C Mehta, Chairman, FICCI National Chemical Committee and Chairman and Managing Director, Deepak Nitrite said, 2021 will be the year for Chemicals in India. The crisis posed by COVID-19 created huge disruption for the chemical industry and we learnt that the value chains are interlinked and the importance of developing the value chain was highlighted by COVID-19.