Mumbai, Oct. 21 -- Ministry of Chemicals and Fertilizers stated in a latest update that India is the sixth-largest producer of chemicals in the world and the fourth-largest in Asia. The Indian chemical industry is projected to reach USD 300 billion by 2030 and USD 1 trillion by 2040, with significant growth being witnessed. The sector's growth potential is supported by rising demand, export opportunities, a demographic dividend, relatively low per capita consumption and enabling government initiatives.

India's emergence as a preferred global destination is being supported by governance reforms, world-class infrastructure, robust trade and investment policies, a strong regulatory framework and the availability of skilled labour at competi...