On July 27, Finance Minister Nirmala Sitharaman stated that the government will consider the Production Linked Incentive (PLI) scheme for the Chemicals and Petrochemicals sector in order to make India a manufacturing hub for such products. She stated that, in light of stringent pollution control regulations and rising labour costs, global chemical manufacturers are looking to diversify their products and production capability, and India stands out as an alternative manufacturing destination.

In addition, she stated at the third edition of the summit on 'Global Chemicals and Petrochemicals Manufacturing Hubs in India' that India has a large domestic market.

"If viable options exist, they exist in markets where there is a domestic buffer and beyond which there is export potential." So that is where the government's policies have helped," she explained.

"We are in favour of India becoming a manufacturing hub, so of course we will consider the PLI for chemicals and petrochemicals," she added.

She emphasised that the industry, which has great potential, should build manufacturing capacity while keeping in mind sustainability, carbon emissions, general pollution, and groundwater pollution, among other things.