Maharashtra Chief Minister Devendra Fadnavis broadcasts plans for a devoted chemical substances business coverage and a proposed chemical substances hub close to Wadhavan port.
Chief Minister Devendra Fadnavis on Thursday mentioned that Maharashtra is within the ultimate stage of formulating a separate coverage for the chemical substances sector and can unveil the identical by the primary week of November.
Plan to develop chemical substances hub close to Wadhavan port
The state can be aiming to amass as much as 5,000 acres of land within the neighborhood of the greenfield Wadhavan port on the outskirts of Mumbai and develop it as a hub for the chemical substances sector, Fadnavis mentioned at an business occasion organised by FICCI right here.
“We’re within the final stage of creating a devoted chemical substances business coverage. Hopefully, within the first week of November we’ll roll out the coverage,” Fadnavis mentioned.
He added that it is going to be a “ahead coverage” designed to assist within the progress of the vital sector for a few years to return.
The federal government has interacted broadly with the chemical substances business over the previous couple of months and understood their calls for, Fadnavis mentioned, assuring that the identical will get included within the coverage doc.
He particularly talked about Reliance Industries’ government director Nikhil Meswani and UPL chairman Jai Shroff as among the many business leaders who’ve been consulted by the Maharashtra authorities.
Fadnavis additionally exuded confidence that the buyers will reply by taking greater bets on the chemical sector in Maharashtra after the revealing of the coverage in early November.
The state recognised the necessity to have a devoted coverage for the chemical substances sector after unveiling the commercial coverage final yr, he mentioned.
Chemical substances sector accounts for 19 per cent of GVA
At current, there are 3,600 entities engaged within the chemical substances sector in Maharashtra, which account for 19 per cent of the chemical substances sector’s gross worth added (GVA) and 17 per cent of chemical exports, the CM mentioned, including that the sector employs 3 lakh individuals at current.
He mentioned the state can play an essential position within the sector, given the truth that the nation’s largest container port, JNPA, is positioned in Maharashtra itself.
As much as 5,000 acres deliberate for chemical substances park
Stating that the Wadhavan port might be prepared in about three years, he introduced a plan to develop a devoted chemical substances ecosystem in shut proximity to the greenfield port within the Palghar district.
“The federal government of India has introduced Bhavya rasayan parks. We’ll attempt to purchase 2,500-5,000 acres across the (Wadhavan) port for the chemical substances sector to ascertain a Bhavya rasayanik park,” he added.
Centre targets $1 trillion chemical substances sector by 2040
In the meantime, Union Minister for Chemical substances J P Nadda, who additionally spoke on the occasion, mentioned that that is probably the most “conducive” time for the sector, the place all the required substances for progress, together with the fitting insurance policies and other people guiding the sector.
The sector is at USD 220 billion at the moment, and the intention is to take it to USD 1 trillion by 2040, he mentioned.
Higher connectivity might be among the many components which can assist the sector’s progress, he mentioned.
In a message to buyers, Nadda assured that the federal government will deal with getting environmental clearances for upcoming initiatives as a part of its obligation to facilitate capability expansions.
He additionally appealed to the business to present due focus to analysis and improvement, and apprised that superior chemical substances and petrochemicals are included in a newly launched Rs 1 lakh crore fund for selling analysis and innovation.
Printed on October 22, 2026
