Smt. Anupriya Patel, Union Minister of State for Commerce and Industry, attended the 47th Export Awards ceremony of CHEMEXCIL, a council for the promotion of basic chemicals, cosmetics, and dyes exports in India.
The council had achieved USD 30 billion of exports in the organic and inorganic chemical sector for the FY23, with USD 27 billion being exported from April 2022 to February 2023. CHEMEXCIL plans to focus on renewable chemicals, bio-based specialty chemicals, and green chemicals in the emerging markets.
The new Foreign Trade Policy 2023, released on March 31, 2023, is designed to facilitate greater trade, boost manufacturing, promote exports, further enable “ease of doing business,” and work towards making the Indian rupee a global currency, adding further impetus to India’s emergence as the global trading hub.
The policy aims to create an institutional mechanism at the state and district level to promote identified products and services that will further help in giving a boost to MSMEs and the creation of employment across all sectors of the economy.
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“Green Growth is one of the priority sectors in this year’s Union Budget Green Fuel, Green Energy, is one of important component. I would like to add that Bio based Specialty chemicals and Renewable chemicals are future of India with excellent growth prospects.
The depleting fossil fuels and increasing greenhouse gas emissions are influencing to increase the need of Bio Material. In view of protection of Environment and increasing demand, the concept of renewable chemicals named as “Green Chemicals” are gaining the market share in Food processing, Pharmaceuticals, Textiles, Construction and coating sectors. Chemexcil members are also working on these directions,” said Mr. Mokashi.