The sector can contribute $300 billion to the GDP

D V Sadananda Gowda, Union Minister of Chemicals and Fertilizers said via a virtual event, that it was a good time to invest in India when the government was focusing on self-sufficiency in domestic production. Gowda was addressing a webinar on ’Specialty Chemical’ Organized by Department of Chemicals and Petrochemicals and FICCI. The minister officially launched  ’India chem2021’ , which will be held from March 17 to 19, 2021. 

He reiterated that Specialty Chemicals is one of the areas where there is  a huge potential for growth. The past couple of decades have seen a significant shift in the manufacturing of chemicals, particularly  the specialty chemicals from EU and North America, to Asia. Gowda added that the sector can alone contribute $300 billion to the GDP as compared to $160 billion at present.