Minister of State for Chemicals and Petrochemicals Anupriya Patel today said India’s chemicals and petrochemicals sector is entering a new phase of growth driven by tax reforms, regulatory simplification and improved ease of doing business.
She was speaking at the 14th FICCI Chemicals and Petrochemicals Awards 2025, organized by FICCI in New Delhi.
Ms Patel described the sector as the backbone of India’s manufacturing ecosystem.
She said the GST rationalization, with a simplified two-rate structure of 5 and 18 per cent, has reduced disputes and corrected duty distortions, benefiting chemical manufacturers.
The Minister further noted that regulatory reforms have led to a 60 to 70 per cent reduction in factory-level compliance, while environmental clearances are now based on science-driven and risk-based assessments.
Highlighting the Viksit Bharat 2047 vision, she said initiatives such as energy and labour reforms and expanded free trade agreements are helping reduce production costs and boost global competitiveness.
