J P Nadda underlines need to increase size of chemicals sector to $1 trillion by 2040
Union Chemicals and Fertilizers Minister J P Nadda has underlined the need to increase the size of the chemicals sector to $1 trillion by 2040, and said that the government is focused on fostering an ecosystem to boost investments for increasing domestic manufacturing capabilities. On August 24, 2026, Nadda chaired a CEO roundtable to deliberate on India’s ambition of building a $1 trillion Chemicals sector by 2040.
The roundtable was attended by more than 100 delegates from the chemical industry from across the world. He stated the government is committed to establishing a continuous and institutionalised dialogue mechanism with the industry to identify challenges and ensure that suggestions are translated into time-bound action. He said that it would require sustained investment, technology development, and stronger domestic manufacturing capabilities.
Moreover, he said that the government continues to focus on creating an enabling ecosystem for investment, innovation, sustainability and long-term growth. He assured that concerns raised by the industry are duly noted and would be suitably taken up with ministries concerned.
