Minister of State for Chemicals and Petrochemicals Anupriya Patel on Tuesday said India’s chemicals and petrochemicals sector is entering a new phase of growth, supported by tax reforms, simplified regulations and an improved ease of doing business environment.
Addressing the 14th FICCI Chemicals and Petrochemicals Awards 2025 in New Delhi, organised by FICCI, Ms Patel described the sector as the backbone of India’s manufacturing ecosystem.
She said the rationalisation of the Goods and Services Tax (GST), with a simplified two-rate structure of 5 per cent and 18 per cent, has helped reduce disputes and correct duty distortions, providing significant relief to chemical manufacturers.
The Minister added that regulatory reforms have resulted in a 60–70 per cent reduction in factory-level compliance requirements, while environmental clearances are now being granted through science-based and risk-based assessment mechanisms.
Referring to the Viksit Bharat 2047 vision, Ms Patel said key initiatives, including energy and labour reforms along with the expansion of free trade agreements, are lowering production costs and enhancing India’s global competitiveness.
