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Continuous product innovation, along with green and safe solutions, will drive Indian chemical industry with a healthy 15 per cent growth over the next few years, said A J V Prasad, joint secretary, ministry of chemicals & fertilizers.
The $144-billion (Rs 9-lakh crore) chemical industry accounts for 2.51 per cent of India’s gross domestic product and 15.95 per cent of the manufacturing sector.
Speaking at day-long seminar organised by the Confederation of Indian Industry (CII) here, Prasad said: “The chemicals industry already makes a major contribution to what’s made in India. The current government is working on a national chemical policy and will come up with the document soon.”
Nadir Godrej, chairman, CII National Committee on Chemicals, said: “For ‘Make in India’ to live up to its promise, the collaborative efforts of many stakeholders including government, industry and academicians are required. We would also appeal to various industries to reduce imports by encouraging indigenous production, which will help us grow on the back of buoying campaigns like ‘Make in India’ and ‘Swatch Bharat’. Chemistry is the solution to the society.”
