Odisha Poised for Leadership in Billion-Dollar Petrochemical Sector

Union Minister Anupriya Patel declared that Odisha is set to become a leading hub in the burgeoning petrochemical industry, projected to reach USD 1 trillion by 2047. The India Chem 2024 summit in Mumbai aims to attract global attention. State officials emphasized improvements in infrastructure, manpower, and green technologies.

Union Minister Anupriya Patel announced on Friday that Odisha is ready to emerge as a leader in the petrochemical sector, which is projected to grow into a USD 1 trillion industry by 2047. Addressing the 'Advanced India: Indian Chemicals and Petrochemicals Paving the Future' conference, she cited the state's skilled manpower and strategic coastal location as key advantages.

The India Chem 2024 summit, set for October 17-19 in Mumbai after a two-year break, is expected to draw significant international participation. The event will feature over 200 companies, attract 7,000 visitors, and include B2B and B2G meetings, a global CEO forum, and roundtable discussions with representatives from countries including Japan, Korea, Brazil, Argentina, and the UAE.

Odisha's local officials highlighted the transformative impact of state policies and incentives on the petrochemical sector. They emphasized advancements in infrastructure, port systems, and electricity tariffs, along with a focus on green technologies to achieve net-zero targets and the development of skilled manpower. The sector, currently valued at USD 220 billion, aims to surpass USD 1 trillion by 2047.

(With inputs from agencies.)