Union Minister of Commerce and Industry Piyush Goyal said that the Chemical and Petrochemical Industry plays a crucial role in India's economic progress and is expected to continue being a key driver of growth in the future. While addressing the Session on ‘FTAs – Connecting the world- Vasudhaiva Kutumbakam- One Earth, One Family, One Future’ as the Chief Guest at the 3rd Edition Summit on ‘India: Global Chemicals and Petrochemicals Manufacturing Hubs’ (GCPMH 2023) in New Delhi. Mr. Goyal appreciated the contribution of the Chemical and Petrochemical Industry to India’s economy, innovation ecosystem and employment generation.

The Minister said that the Free Trade Agreements (FTAs) play an important role in enhancing exports and encouraging the growth of multiple sectors collectively. He said that GCPMH 2023 Summit acts as a forum to explore the ways in which FTAs can facilitate trade, investment and collaboration in the chemicals and petrochemicals industry.