MP Emerging As Key Petrochemical Hub, Says CM Mohan Yadav At India Chem 2026

(MENAFN- IANS) Mumbai, Oct 22 (IANS) Madhya Pradesh Chief Minister Mohan Yadav on Thursday highlighted the remarkable growth of India's chemical and petrochemical sector and announced major industrial developments in the state while addressing the inaugural session of India Chem 2026 at the Bombay Exhibition Centre.

In his speech, the Chief Minister disclosed that the country's chemical, petroleum and petrochemical market, which stood at $120 billion in 2014, has more than doubled under the leadership of Prime Minister Narendra Modi.

He further revealed that the sector attracted Rs 1 lakh crore in foreign direct investment between 2014 and 2026.

CM Yadav also shared that investment proposals worth approximately Rs 12 lakh crore received after Madhya Pradesh's Global Investors Summit are now being implemented on the ground.

A major announcement related to the state was the development of Bina as a new petrochemical hub. The Chief Minister informed that Prime Minister Narendra Modi had laid the foundation stone for a downstream petrochemical unit in Bina involving an investment of several hundred crore rupees.

The unit is expected to produce over 2.2 million tonnes of petrochemical products annually, supplying critical raw materials to industries such as plastics, packaging, pharmaceuticals, textiles and automobiles while generating employment for the state's youth.

CM Yadav said the chemical and petrochemical sector is creating equal opportunities for progress across agriculture, healthcare, energy and manufacturing. He praised the role of Union Minister J.P. Nadda and FICCI in organising India Chem 2026, describing it as a vital platform that brings together global experts, industrialists and policymakers amid economic uncertainty and changing industrial dynamics.

The Chief Minister noted that the event, which began during the tenure of former Prime Minister Atal Bihari Vajpayee, has completed 26 years and 14 successful editions, evolving into one of South Asia's most influential industrial platforms.

This year, countries including Brazil, Saudi Arabia, China, Germany, the United States, Japan and the European Union are participating as partners, while Andhra Pradesh, Gujarat, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu and West Bengal are state partners.

Highlighting Madhya Pradesh's industrial initiatives, CM Yadav said the state has developed modern plastic parks -- spanning 121 acres in Tamod (Raisen) and 93 acres in Bilowa (Gwalior) -- to boost plastic and polymer-based industries.

He also mentioned the success of the PM MITRA Park as a model textile park and the strategic importance of GAIL's gas infrastructure in Vijaypur and its petrochemical project in Ashta (Sehore district).

The Chief Minister emphasised that Madhya Pradesh offers investors electricity, water and land at the most affordable rates, along with surplus power, adequate water resources, plug-and-play industrial zones and a simplified, transparent regulatory system.

He claimed the state has virtually no labour problems and remains largely free from criminal activity, having successfully eliminated both dacoity and Naxalism under the leadership of the Prime Minister.

CM Yadav expressed confidence that the three-day deliberations at India Chem 2026 would generate new ideas, partnerships and investment proposals that would not only strengthen India's chemical industry but also open fresh avenues of growth for Madhya Pradesh.

He reiterated the state's full commitment to supporting the national goal of transforming the Indian chemicals and petrochemicals sector into a one-trillion-dollar industry by 2040.

Union Minister of Chemicals and Fertilisers J.P. Nadda, Maharashtra Chief Minister Devendra Fadnavis, Odisha CM Mohan Charan Manjhi, senior officials of FICCI, representatives from participating countries and state partners were present on the occasion.

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