Sh. Goyal appreciates contribution of the chemical and petrochemical industry to India’s innovation ecosystem and employment generation

Global Chemicals and Petrochemicals Manufacturing Hubs 2023 Summit provides forum to explore ways for FTAs in chemicals & petrochemicals industry: Sh. Goyal

Sh. Goyal applauds efforts and dedication of all stakeholders for promoting sustainable practices and commitment to finding sustainable solutions

Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal said that the chemical and petrochemical industry play a crucial role in India's economic progress and is expected to continue being a key driver of growth in the future. While addressing the Session on ‘FTAs – Connecting the world- Vasudhaiva Kutumbakam- One Earth, One Family, One Future’ as the Chief Guest at the 3rd Edition Summit on ‘India: Global Chemicals and Petrochemicals Manufacturing Hubs’ (GCPMH 2023) in New Delhi yesterday Sh. Goyal appreciated the contribution of the chemical and petrochemical industry to India’s economy, innovation ecosystem and employment generation. 

The Minister said that the Free Trade Agreements (FTAs) play an important role in enhancing exports and encourage the growth of multiple sectors collectively.  He said that GCPMH 2023 Summit acts as a forum to explore the ways in which FTAs can facilitate trade, investment and collaboration in the chemicals and petrochemicals industry. 

Sh. Goyal lauded GCPMH 2023 for providing a platform for industry leaders, policymakers, and experts to discuss and exchange ideas on leveraging FTAs to enhance the competitiveness and sustainability of this vital sector. He said that FTAs can help in attracting foreign investment into India's chemical and petrochemical industries. The Minister highlighted that this would lead to creation of new jobs and development of new infrastructure strengthening the industry's ability to connect with the world.

Sh. Piyush Goyal highlighted the importance of sustainability in our goal towards becoming a developed nation. He also mentioned how important it is for the present generation to create a sustainable India for the future generation. The Minister applauded the efforts and dedication of all stakeholders for promoting sustainable practices and commitment to finding sustainable solutions.

He said that sharing best practices, and fostering collaboration will undoubtedly pave the way for a more sustainable and prosperous future in the chemical and petrochemical industries. Sh. Goyal urged the present generation to work with a sense of duty and commitment towards the coming generations. He quoted Mahatma Gandhi and said that “All of us have inherited the planet Earth as trustees for the next generation.”

Free Trade Agreements can boost chemicals and petrochemicals trade, investment and sustainability, enhancing competitiveness and job creation. The GCPMH 2023 Summit highlights how Free Trade Agreements can facilitate trade, investment and collaboration in the chemical and petrochemical sector by enhancing exports, attracting foreign investment, and supporting infrastructure development and job creation, while urging stakeholders to adopt and share sustainable practices and cooperate to ensure long term stewardship for future generations.