The current study focuses on the magnetohydrodynamic flow of fluids through two vertical, insulated walls. The influences of Newtonian heating/cooling, induced magnetic field (IMF), the Soret effect, radiative heat flux, and first‐order chemical reaction are considered. By solving the set of non‐dimensional linked governing equations, we were able to determine the expressions for the velocity, temperature, concentration, and IMF. The equations for Nusselt number, induced current density, and skin friction were also obtained. The graph displays the effects of several parameters on velocity, temperature, concentration, IMF, and induced current density (ICD). Additionally, a tabular analysis is done to see how these non‐dimensional parameters affect Nusselt number and skin frictions. It is seen that the Grashof number and Soret number improve the fluid velocity and skin friction whereas the chemical reaction parameter and Schmidt number reduces skin friction.