* Rise in demand from end-user industries such as food processing, personal care and home care is driving development of different segments in India’s specialty chemicals market.
* Domestic demand is expected to rise from US$ 170 billion-US$ 180 billion in 2021 to US$ 850 billion-US$ 1,000 billion by 2040.
* India is the 6th largest producer of chemicals in the world and 3rd in Asia, contributing 7% to India’s GDP.
* India’s specialty chemicals companies are expanding their capacities to cater to rising demand from domestic and overseas.
* With global companies seeking to de-risk their supply chains, which are dependent on China, the chemical sector in India has the opportunity for a significant growth.
* The government plans to introduce production-linked incentive (PLI) scheme to promote domestic manufacturing of agrochemicals.
* Under the Union Budget 2023-24 the government allocated Rs. 173.45 crore (US$ 20.93 million) to the Department of Chemicals and Petrochemicals.
* FDI inflows in the chemicals sector (other than fertilisers) reached US$ 20.96 billion between April 2000-December 2022.
* The Department of Chemicals & Petrochemicals intend to bring PLI in chemical & petrochemical sector and will redraft the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) guidelines.
Covering more than 80,000 commercial products, India’s chemical industry is extremely diversified and can be broadly
Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...
In recent years, a revolutionary trend has evolved in the financial service...
The traditional Indian palate has evolved over centuries and has its roots ...
Infrastructure development serves as a catalyst for India's journey tow...