NEW DELHI β Addressing the 14th FICCI Chemicals and Petrochemicals Awards 2025 on Thursday, Union Minister of State for Chemicals and Petrochemicals, Anupriya Patel, hailed the industry as the “backbone of Indiaβs manufacturing ecosystem.” Speaking at the prestigious event in the national capital, she emphasized that the sector is currently entering a transformative phase driven by significant regulatory reforms and a simplified tax structure.
During her keynote address, the Minister underscored the governmentβs commitment to reducing bottlenecks for industrial players. She highlighted that regulatory reforms have already led to a substantial 60% to 70% reduction in factory-level compliance requirements.
“Our goal is to create an investment-friendly environment where science-driven and risk-based assessments guide environmental clearances,” Patel stated. She further noted that the rationalization of the Goods and Services Tax (GST) has played a pivotal role in creating a more seamless and transparent operating landscape for petrochemical companies.
A Vision for Viksit Bharat 2047 is the aligning the industryβs trajectory with the national vision of “Viksit Bharat 2047,” the Minister pointed toward several strategic initiatives designed to lower production costs. These include:
Energy and Labor Reforms are streamlining operational costs to make Indian chemicals globally competitive.
Leveraging international partnerships to open new markets for Indian exports.
Encouraging the adoption of green technologies to meet global environmental standards.
The 14th edition of the FICCI awards served as a platform to recognize excellence in the field, honoring companies that have demonstrated outstanding performance in digitalization, sustainability, and operational efficiency.
The chemicals and petrochemicals sector remains a primary driver of Indiaβs industrial output. With the governmentβs push for self-reliance through the PLI (Production Linked Incentive) schemes and the redrafting of PCPIR (Petroleum, Chemicals and Petrochemicals Investment Regions) guidelines, the Minister expressed confidence that the sector would continue to fuel the country’s journey toward becoming a $5 trillion economy.
Industry leaders at the event welcomed the Ministerβs remarks, noting that the continued focus on “Ease of Doing Business” is essential for attracting both domestic and foreign direct investment (FDI) into the capital-intensive petrochemical space.
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