Maharashtra Chief Minister Devendra Fadnavis announced plans for a special chemical industry policy and proposed chemicals hub near Wadhavan port.
Chief Minister Devendra Fadnavis on Thursday said that Maharashtra is in the final stages of formulating a separate policy for the chemical sector and will unveil it in the first week of November.
Plans to develop chemical hub near Wadhavan port
The state is also aiming to acquire up to 5,000 acres of land near the Wadhavan greenfield port on the outskirts of Mumbai and develop it as a hub for the chemical sector, Fadnavis said at an industry event organized by FICCI here.
“We are in the final stages of making a special chemical industry policy. Hopefully, in the first week of November we will roll out the policy,” said Fadnavis.
He added that it would be a “progressive policy” designed to help the growth of critical sectors over the years.
The government has been interacting extensively with the chemical industry over the past few months and is aware of their demands, Fadnavis said, ensuring that they are incorporated in the policy document.
He specifically mentioned Reliance Industries chief executive officer Nikhil Meswani and UPL chairman Jai Shroff as among the industry leaders who have been consulted by the Maharashtra government.
Fadnavis also expressed confidence that investors would respond by taking bigger bets on the chemical sector in Maharashtra after unveiling the policy in early November.
The country recognized the need to have a special policy for the chemical sector after unveiling its industrial policy last year, he said.
The chemical sector accounts for 19 percent of GVA
Currently, there are 3,600 entities involved in the chemical sector in Maharashtra, which accounts for 19 percent of the chemical sector’s gross value added (GVA) and 17 percent of chemical exports, the CM said, adding that the sector employs 3 lakh people today.
He said that the state can play an important role in the sector, given the fact that the country’s largest container port, JNPA, is located in Maharashtra itself.
Up to 5,000 hectares are planned for a chemical park
Stating that the Wadhavan port would be ready in about three years, he announced plans to develop a special chemical ecosystem near the greenfield port in Palghar district.
“The Government of India has announced a Bhavya rasayanik park. We will try to acquire 2,500-5,000 acres around the port (Wadhavan) for the chemical sector to create a Bhavya rasayanik park,” he added.
The center targets a $1 trillion chemical sector by 2040
Meanwhile, the Union Minister for Chemicals JP Nadda, who also spoke at the event, said that this is the most “conducive” time for the sector, where all the ingredients are necessary for growth, including the right policies and people guiding the sector.
This sector is at USD 220 billion today, and the goal is to take it to USD 1 trillion in 2040, he said.
Better connectivity will be one of the factors that will help the growth of the sector, he said.
In his message to investors, Nadda assured that the government will take care of the environmental clearance for the upcoming project as part of its task to facilitate capacity expansion.
He also asked the industry to focus on research and development, and stated that advanced chemicals and petrochemicals are included in the newly launched Rs 1 lakh crore fund to promote research and innovation.
Published on October 22, 2026