States » WestPosted at: Oct 22 2026 9:59PM


Nadda sets an ambitious target of 1.6 trillion USD for Chemical sector by 2047

Mumbai, Oct 22 (UNI) union Minister of Health and Family Welfare, and Chemicals and Fertilisers JP Nadda on Thursday said while the chemicals and petrochemicals sector has entered the most conducive environment with a market size of 220 billion US dollars, the ambition is to cross 1 trillion dollars by 2040, and 1.6 trillion by 2047.
Addressing chemical industry leaders at the 14th edition of the ‘India Chem 2026’ here, he emphasised the need for working together with stakeholders to examine the bottlenecks and move forward.
He said union Government plans to allot Rs 1000 crore to set up a chemicals park, for which the state will spend at least Rs 500 crore. “We need a minimum of 2,000 hectares of land for the chemical park. The larger the land parcel, the better. We all know that the scheme guidelines have also been notified,” he added.
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