Addressing the valedictory session of the Summit on Global Chemicals and Petrochemicals Manufacturing Hubs in India, Union Minister of Health and Family Welfare and Chemicals and Fertilisers, Dr Mansukh Mandaviya, noted that the ministry is undertaking detailed work on establishing chemical parks.

He mooted the idea that the industry can form an association or SPV and partner with the central and state governments. The private player can have a 51 per cent stake in the entity and develop the park on a turnkey basis, he added.

He emphasised the vision of transforming India into the world's manufacturing hub. To fulfil this ambition, he stressed the necessity of an industry-friendly environment to bolster manufacturing.

Dr Mandaviya pointed out that the government's holistic approach towards industry promotion has positioned India as the preferred investment destination globally. The Minister highlighted the government's commitment to continuous stakeholder consultation, inviting the industry to collaborate and help enhance quality, thereby gaining a competitive edge in the global market.

"Brainstorming is a continuous exercise, both with the government and within the industry," stated Dr Mandaviya, underlining the importance of mutual collaboration.

Speaking at the Summit, Arun Baroka, Secretary (Chemicals and Fertilisers), Department of Chemicals and Petrochemicals, detailed the new features of the Summit's third edition, which include innovative financing measures designed to assist India in its aspiration to become a global manufacturing hub.

Also present was Deepak C Mehta, Chairman, FICCI National Chemical Committee and Chairman and Managing Director of Deepak Nitrite. Mr Mehta reiterated the significant contributions of the chemical industry to the Indian economy, adding that the industry's challenges and opportunities have become more evident than ever. "Our recent engagements with policymakers and finance ministers show their increasing investment in understanding this vital sector," he shared.

In addition, Prabh Das, Chairman of the FICCI Petrochemicals Committee and MD & CEO of HPCL – Mittal Energy, praised the supportive role of the state government in the summit. He emphasised that the industry is receiving significant support on standards.