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Sadananda Gowda inaugurates 11th Edition of India Chem 2021 in New Delhi

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11th Edition of India Chem 2021 in New Delhi newSadananda Gowda, Union Minister for Chemicals & Fertilizers inaugurated ‘India Chem 2021’ – the 11th Biennial International Exhibition & Conference at New Delhi.  It is organized by the Department of Chemicals & Petrochemicals, Government of India & FICCI (Federation of Indian Chambers of Commerce & Industry) and will be held from March 17-19, 2021.

  • Theme – “India: Global Manufacturing Hub for Chemicals and Petrochemicals”
  • Objective – To highlight the investment potential in Indian Chemicals & Petrochemicals Industry.
  • India Chem is one of the largest composite events of the Chemical & Petrochemical sector in the Asia-Pacific event.

Event Held

i.During India Chem-2021 events such as Global CEOs Round Table, Conclaves on Global Chemical Industry; Petrochemical Industry;Global Agrochemical Industry;Capital Goods; Plant Machinery were held.

ii.Three Bilateral events were held for enhancing bilateral trade and investment opportunities in the sector. They were

  • India-Japan Chemical and Petrochemical Forum
  • India-EU Chemical and Petrochemical Forum
  • India-US Chemical and Petrochemical Forum

Investment of 8 Lakh by 2025

Union Minister  D V Sadananda Gowda stated that an investment of INR 8 Lakh Crore is anticipated in the Indian Chemicals & Petrochemical industry by 2025.

  • Government has launched 12 Production Linked Incentive (PLI) schemes for direct/indirect benefit of the chemicals sector.

Budget allocation in Union Budget 2021-22

In the Union Budget 2021-22, Government has increased budgetary allocation for the Department of Chemicals & Petrochemicals by 7% from INR 218.34 crore in 2020-21 to INR 233.14 Crore.

  • INR 53.73 crore for promotion of petrochemicals.
  • INR 117.88 Crore for Central Institute of Plastic Engineering and Technology.
  • The import duty on Naphtha has been reduced from 4.0% to 2.5% in the budget.

Recent Related News:

i.On February 23, 2021, Union Minister Sadananda Gowda, Ministry of Chemicals and Fertilizers (MoC&F) presented the 10th National Awards for Technology Innovation in Petrochemicals and Downstream Plastics Processing Industry for FY 2019-20 at Vigyan Bhavan in New Delhi.

About Ministry for Chemicals & Fertilizers:

Union Minister – D V Sadananda Gowda (Lok Sabha MP, Constituency – Bangalore North, Karnataka)
Minister of State – Mansukh Mandaviya (Rajya Sabha MP  – Gujarat)