Mumbai, Oct 22 — Maharashtra Chief Minister Devendra Fadnavis said on Thursday that the state government is formulating a dedicated chemical industry policy, which will be officially released in the first week of November.
Designed to cater to evolving industrial demands and investor-friendly infrastructure, the policy includes plans to develop a massive chemical industrial hub in the Vadhavan Port region of Palghar district.
The Chief Minister was speaking at the inauguration of India Chem 2026.
Chief Minister Fadnavis said that Maharashtra houses nearly 3,600 chemical industrial units, contributing 19 per cent to India's Gross Value Added (GVA) in the chemical sector and 17 per cent to national chemical exports.
"Through single-window platforms like Maitri and Invest Maharashtra, the state ensures seamless clearances and investor support."
He also added that the chemical sector currently generates around 300,000 jobs in Maharashtra, with the capacity to double employment opportunities under the new policy framework.
Madhya Pradesh Chief Minister Mohan Yadav highlighted a Rs 50,000-crore petrochemical project in Bina, alongside expanding plastic and gas-based parks.
Odisha Chief Minister Mohan Charan Majhi underscored his state's transition from a mineral-based economy to a chemical-industrial economy, leveraging coastal ports for green hydrogen, petrochemical, and fertiliser investments.
Minister of State Anupriya Patel and Gujarat Minister of State Praful Pansheriya also addressed the gathering, emphasising ease of compliance and regulatory support.
Union Chemicals and Fertilisers Minister J.P. Nadda reaffirmed the Central government's commitment to providing favourable policies, robust infrastructure, and strong support for research and development.
India's current chemical industry market stands at around $220 billion, with ambitions to scale up to $1 trillion by 2040 and $1.6 trillion by 2047, Nadda said.
Union Minister Nadda said that the Union government is providing central assistance of up to Rs 1,000 crore per park under the Bulk Drug Park scheme, requiring a minimum state contribution of Rs 500 crore to build world-class industrial ecosystems.
The Centre has integrated advanced chemicals into the Rs 1-lakh-crore research and development, and innovation fund, he added.
Nadda also emphasised prioritising industrial safety, handling hazardous materials, worker training, reducing carbon emissions, and expanding plastic recycling infrastructure.