The importance of chiral ligands in catalysis lies in their ability to control the stereoselectivity of a reaction. This is particularly crucial in the pharmaceutical industry where the biological activity of a drug can be highly dependent on its chirality. For example, one enantiomer of a drug might be therapeutically beneficial, while the other could be inactive or even harmful. Chiral ligands help in the synthesis of such enantiomerically pure compounds, making the process both efficient and economically viable.