Piyush Goyal stresses importance of chemical and petrochemical industry for India’s economic progress

• ByStartupStory     |    July 30, 2023

Commerce and Industry Minister Piyush Goyal recently emphasized the vital role played by the chemical and petrochemical industry in India’s economic growth. Speaking at the 3rd Edition Summit on ‘India: Global Chemicals and Petrochemicals Manufacturing Hubs’ (GCPMH 2023), Goyal praised the industry’s contributions to the country’s economy, innovation ecosystem, and job creation.

During the session on ‘FTAs – Connecting the world- Vasudhaiva Kutumbakam- One Earth, One Family, One Future,’ the minister highlighted the significance of free trade agreements (FTAs) in boosting exports and promoting growth across various sectors. The GCPMH 2023 Summit served as a platform to explore how FTAs can facilitate trade, investment, and collaboration in the chemicals and petrochemicals sector.

Goyal applauded the summit for bringing together industry leaders, policymakers, and experts to discuss and exchange ideas on leveraging FTAs to enhance the competitiveness and sustainability of this critical sector.

He emphasized that FTAs can attract foreign investments into India’s chemical and petrochemical industries, leading to job creation and infrastructure development, further strengthening their global connect.

Sustainability was another essential aspect highlighted by the minister. He stressed the importance of the present generation’s efforts in creating a sustainable India for the future. Goyal underscored the significance of sharing best practices and fostering collaboration, stating that it would pave the way for a more sustainable and prosperous future for the chemical and petrochemical industries.

In his address, Commerce Minister Piyush Goyal reaffirmed the government’s commitment to support the chemical and petrochemical industry as a key driver of India’s economic progress. The industry’s remarkable contributions to India’s growth story were acknowledged, and the summit served as a promising platform to forge international collaborations and fuel the sector’s growth in the global landscape.

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