Union Minister for Chemicals & Fertilizers Ananth Kumar has said that the Indian chemical industry is expected to grow at 9% p.a. to become a US $ 226 bn sector, driven by growth in end-use industries and government initiatives. The present size of the industry is US $ 147 bn.
Speaking at the inauguration of the 9th edition of biennial IndiaChem International Exhibition and Conference in Mumbai, the Minister observed that the current PCPIR (Petroleum, Chemicals & Petrochemicals Investment Regions) Policy needs fine tuning to make it more pragmatic and practical. He requested the industry leaders and experts gathered at IndiaChem to offer suggestions over the next one month to make the policy more vibrant.
(Continued on the next page)