Union Minister for Chemicals and Fertilizers J.P. Nadda inaugurated the 14th edition of ‘India Chem 2026’ in Mumbai on October 22. During the event, he highlighted the government’s plan to establish three dedicated chemical parks under the ‘Bharat Audyogik Vikas Yojana Rasayan’ (BHAVYA Rasayan) scheme, aimed at strengthening domestic manufacturing and attracting investment.
Addressing industry leaders and policymakers, Nadda stated that the government is creating a conducive environment to promote the chemicals and petrochemicals sector. He emphasized the need for better connectivity and integrated value chains to develop a globally competitive manufacturing hub. He added that this sector will play a crucial role in strengthening self-reliance and achieving the goal of a Viksit Bharat by 2047.
BHAVYA Rasayan Scheme to Boost Chemical Manufacturing, Investment
Minister of State for Chemicals and Fertilizers Anupriya Patel urged industry leaders and state governments to work together to implement the BHAVYA Rasayan Scheme. This scheme envisages the creation of three dedicated chemical parks across the country.
The objective of this scheme is to strengthen industrial infrastructure, enhance competitiveness in the manufacturing sector and attract both domestic and foreign investment.
Maharashtra Chief Minister Devendra Fadnavis, Madhya Pradesh Chief Minister Mohan Yadav and Odisha Chief Minister Mohan Charan Majhi invited investors to explore opportunities in their respective states. Fadnavis noted that approximately 300,000 people are employed in Maharashtra’s chemical industry and highlighted the state’s efforts to develop investment-friendly policies.
The Union Cabinet has approved an outlay of ₹3,030 crore. Under this scheme, central assistance of up to ₹1,000 crore per park will be provided, Provided that the concerned state government contributes at least ₹500 crore.
Reading out Prime Minister Narendra Modi’s message, Nadda highlighted the opportunities emerging from improvements in ease of doing business and India’s expanding network of free trade agreements. The Prime Minister expressed confidence that Indian chemical manufacturers would strengthen their participation in global supply chains and said the event could foster partnerships for the sector’s long-term development.
Japan Named Partner Country as India’s Chemical Industry Targets $1 Trillion by 2040
The three-day event, organized by the Department of Chemicals and Petrochemicals in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI), is based on the theme “Advantage Bharat: An Emerging Global Chemicals Hub.”
Japan is a partner country in this initiative, while Maharashtra, Gujarat, Odisha, Madhya Pradesh, Bihar, Andhra Pradesh and Uttar Pradesh are participating as partner states. The event includes an international exhibition, industry-focused discussions and the India Chem Youth Innovation Challenge, which aims to encourage young innovators to develop practical solutions for this sector.
India’s chemical industry is projected to reach $300 billion by 2030 and $1 trillion by 2040, driven by rising domestic demand, export opportunities and government initiatives. India Chem 2026 aims to attract investment, foster global partnerships and strengthen India’s position as a leading chemical manufacturing hub.
A knowledge paper prepared jointly by FICCI and Ernst & Young was released at the inaugural session. Nadda also inaugurated the exhibition at the Bombay Exhibition Centre in NESCO, showcasing products, technologies and equipment related to chemicals, petrochemicals and process industries.
More than 200 Indian and international exhibitors, over 8,000 business visitors and approximately 50 prominent Indian and international CEOs are participating in this event. Additionally, delegations from countries and regions such as the United States, Canada, the United Kingdom, the European Union, South Korea and ASEAN are also taking part.
(PIB)
