Chemicals And Petrochemicals Sector To Play Key Role In Achieving $5 Trillion Target For Indian Economy

Mansukh Mandaviya, Union Minister of Health & Family Welfare and Chemicals & Fertilizers, Govt of India today said that the Indian chemicals and petrochemicals industry will play a key role in achieving the $5 trillion target under the Atamanirbhar Bharat vision. The basic material for over 80,000 industries is provided by the chemicals and petrochemicals sector, he added. Addressing 'Industry Connect 2022 - Industry and Academia Synergy', organized by CIPET in association with FICCI under the aegis of Department of Chemicals and Petrochemicals, Mandaviya stressed on the need to reduce the logistic cost. He noted that the average global logistic cost of GDP is around 9 per cent and in India it is 14 per cent of GDP. To overcome this, the government adopted a holistic approach and Gati Shakti plan was initiated.

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