Visakhapatnam: Andhra Pradesh (AP) holds significant potential for industrial development, particularly in chemicals and machinery manufacturing, aligning with the Prime Minister’s vision of ‘Atma Nirbhar Bharat,’ said Nivedita Shukla Verma, Secretary of the Department of Chemicals and Petrochemicals, Government of India.

Speaking at an industry meet organized by the Department of Chemicals and Petrochemicals in collaboration with FICCI, Verma noted that much of India's chemicals and machinery are still imported, providing vast opportunities for domestic production. She also highlighted that NITI Aayog has projected major investments in Petroleum, Chemicals, and Petrochemical Investment Regions (PCPIRs) in AP, Gujarat, and Odisha, with potential investments of ₹2.5 lakh crore and the creation of 3.7 lakh jobs.

The meeting served to promote participation in the upcoming 'India Chem 2024' exhibition in Mumbai from October 17-19. Verma also assured that the central government is considering establishing another CIPET (Central Institute of Petrochemicals Engineering & Technology) center in AP to address plastic waste management issues.

Dr. Yuvraj, Secretary of Industries and Commerce, AP, emphasized the state's advantages, including a long coastline and six major ports, which play a crucial role in facilitating imports and exports. He urged the government to identify anchor investors for PCPIR and create specialized MSME parks to boost the local economy.

Visakhapatnam MP M Sribharat highlighted the state’s abundant natural resources, large oil refinery, thriving pharmaceutical sector, and skilled workforce. He stressed the need for better funding for research and development, which would accelerate drug development in India. Additionally, he called for upgrading air cargo facilities in Visakhapatnam to avoid delays in cargo transportation.

Joint Secretary of Chemicals and Petrochemicals, Deepankar Aron, provided an overview of the upcoming 'India Chem 2024' exhibition, urging stakeholders to leverage the opportunities. Sudarsan Swamy, President of the Vizagapatam Chamber of Commerce & Industry (VCCI), also addressed the gathering.

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