Petrochemicals sector attracts ₹3.4 lakh crore investment, creates 3.7 lakh jobs in 12 years
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Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIRs) have attracted investments worth ₹3.4 lakh crore over the past 12 years, leading to the creation of around 3.7 lakh jobs and the establishment of more than 2,200 chemical manufacturing units, the government said on Wednesday.
The three operational PCPIRs at Dahej in Gujarat, Visakhapatnam-Kakinada in Andhra Pradesh and Paradeep in Odisha have emerged as key industrial hubs for the chemicals and petrochemicals sector, according to the Ministry of Chemicals and Fertilisers.
The ministry said the Department of Chemicals and Petrochemicals (DCPC) has undertaken policy reforms, infrastructure development, investment promotion, skill development and research initiatives since 2014 to strengthen domestic manufacturing and support the government's vision of Viksit Bharat@2047 and Atmanirbhar Bharat.
As part of its latest push, the Union Cabinet has approved the BHAVYA Rasayan (Bharat Audyogik Vikas Yojana Rasayan) scheme for setting up three new chemical parks under a cluster-based plug-and-play model. Announced in the Union Budget 2026-27, the scheme has an outlay of more than ₹3,030 crore and aims to reduce import dependence, boost domestic manufacturing and improve the global competitiveness of India's chemical industry.
The ministry said India's liberal foreign direct investment policy has also helped attract capital into the sector. FDI inflows between 2014 and 2026 stood at ₹1.05 lakh crore, more than double the ₹45,240 crore received during 2004-2014.
To improve manufacturing quality and curb sub-standard imports, the department has issued 37 Quality Control Orders that are currently in force.
The government has also expanded infrastructure for downstream plastic processing industries by approving 10 Plastic Parks across the country, of which four have completed infrastructure development. Eighteen Centres of Excellence established under the department have collectively filed 85 patents, published more than 600 research papers and developed 105 new technologies and products.
The Central Institute of Petrochemicals Engineering and Technology (CIPET) has expanded its network to 51 centres, including 19 set up since 2014. The institute trained more than 5.21 lakh professionals between 2014 and 2024 and completed over 8.53 lakh technology support assignments during the period.
The ministry said these initiatives have strengthened manufacturing capacity, promoted innovation, generated employment and supported the long-term growth of India's chemicals and petrochemicals sector.