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Indian Chemical industry To See Investments Of Rs 8 lakh Crore By 2025

Capital Market 

Union Minister of Chemicals & Fertilizers D. V. Sadananda Gowda inaugurated the 11th Edition of India Chem 2021 in New Delhi with the theme India: Global Manufacturing hub for chemicals and petrochemicals. He stated that the Indian chemicals and petrochemicals industry is growing to new heights, and informed that an investment of Rs 8 lakh crore is anticipated in the sector by 2025.

During his speech, Sadananda Gowda also appreciated that Department and FICCI has organised the event. He added that the growth in the chemical and petrochemicals industry is also contributing to the Prime Minister's vision of Atmanirbhar Bharat. He informed that Government has launched 12 PLI scheme for different sectors which will directly or indirectly benefit the chemicals sector. He also stated that the Government is prioritising the sector and in the Budget 2021-21, the import duty on Naphtha has been reduced from 4.0% to 2.5%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, March 17 2021. 17:38 IST