Summary:

According to Nivedita Shukla Verma, India's chemical industry has the potential to become a significant engine of industrial growth and create about 10 million employment by 2040. According to her, the industry is making a substantial contribution to manufacturing, exports, and economic growth thanks to growing domestic demand and increased interest from around the world in India as a potential location for manufacturing. Important sectors like consumer products, agribusiness, textiles, medicines, and automobiles are supported by this sector. India, one of the biggest manufacturers and users of chemicals worldwide, is anticipated to gain from investments in sustainable manufacturing, regulatory assistance, and supply-chain diversification. In order to boost competitiveness, fortify industrial ecosystems, and support India's aspirations for a developed economy by 2047, Verma emphasised the significance of innovation, research, cutting-edge technologies, and circular economy practices.

Source: IBEF

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