Chemical and petrochemical industry crucial for India’s economic progress: Union Minister Piyush Goyal

New Delhi, July 28 (KNN) Union Minister of Commerce and Industry Piyush Goyal on Thursday 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.

Addressing the Session on ‘FTAs at the two-day summit on ‘Global Chemicals and Petrochemicals Manufacturing Hubs' in India, the minister said, “Free Trade Agreements (FTAs) play an important role in enhancing exports and encourage the growth of multiple sectors collectively and the 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.”

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.

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.  (KNN Bureau)