Union Commerce and Industry Minister Piyush Goyal on Wednesday said that India’s chemical and petrochemical industry has the potential to lead the country’s technological transformation and position it as a global innovation hub.

Delivering the keynote address at the 7th Indian Chemicals and Petrochemicals Conference organised by Confederation of Indian Industry in New Delhi, the minister underscored the sector’s strategic role in India’s economic growth and its far-reaching impact across multiple industries including agriculture, healthcare, construction, energy, and mobility.

Goyal pointed to the International Monetary Fund’s recent decision to raise India’s growth forecast to 6.6% for 2025 – up from 6.4% – as clear evidence of the country’s economic resilience and robust fundamentals.

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