Nadda sets a one-trillion-dollar target for India's chemicals market by 2040 and outlines Rs 1,000 crore per chemical park

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Nadda sets a one-trillion-dollar target for India's chemicals market by 2040 and outlines Rs 1,000 crore per chemical park

22 October 2026

Union Minister for Chemicals and Fertilisers J P Nadda inaugurated the 14th edition of India Chem 2026 at the Bombay Exhibition Centre, NESCO, in Mumbai on 22 October 2026.
He set a target of a one-trillion-dollar chemicals market by 2040.
Under the proposed Bhavya Rasayan scheme, the Centre would provide Rs 1,000 crore for each chemical park and the concerned state would contribute at least Rs 500 crore.
The theme of the event is Advantage Bharat: An Emerging Global Chemicals Hub.
Maharashtra Chief Minister Devendra Fadnavis said the sector already employs three lakh people in the state.
The three-day event concludes on Saturday.

Market target: one-trillion-dollar by 2040 Centre's share per park: Rs 1,000 crore State's minimum share: at least Rs 500 crore Edition: 14th India Chem

Why it matters for exams: Scheme names, outlays per park and sector targets are asked directly in economy sections.

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22 October 2026 Source: News On AIR (Prasar Bharati)

In plain words

Bhavya Rasayan Bhavya Rasayan scheme — A proposed central scheme to fund chemical parks jointly with states.