Advantage India
Growing
Demand
* 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.
* The domestic chemicals sector's small and medium enterprises are expected to showcase 18-23% revenue growth in FY22, owing to an improvement in domestic demand and higher realisation due to high prices of chemicals.
Opportunities
* 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.
Policy
Support
* The government plans to introduce production-linked incentive (PLI) scheme to promote domestic manufacturing of agrochemicals.
* Under the Union Budget 2022-23 the government allocated Rs. 209 crores (US$ 27.43 million) to the Department of Chemicals and Petrochemicals.
Increasing
Investments
and spending
* FDI inflows in the chemicals sector (other than fertilisers) reached US$ 20.75 billion between April 2000-September 2022.
* In November 2021, Indian Oil Corporation (IOCL) announced plans to invest Rs. 3,681 crore (US$ 495.22 million) to set up India’s first mega-scale maleic anhydride unit for manufacturing high-value specialty chemicals at its Panipat Refinery in Haryana.
Aarti Industries Limited
Aarti Industries Limited is a manufacturer of speciality chemicals and pharmaceuticals that are used in the downstream manufacture of pharmaceuticals, agrochemicals, polymers, additives, surfactants, pigments, dyes, etc.
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Tata Chemicals Limited
Tata Chemicals Limited is a multinational company with presence in over 40 countries and has ~4,600 employees. The company has developed innovative products and has established a global position in inorganic and crop protection chemicals. The company’s key products include soda ash (3,670KT), sodium bicarbonate (222KT) IVSD (1,078KT) and cement (362KT).
Read MoreGujarat Fluorochemicals Limited
Headquartered in Noida, India, Gujarat, Fluorochemicals Limited is a part of INOX Group of Companies. The company has diversified business segments comprising chemicals, fluoropolymers, cryogenic engineering, entertainment, industrial gases and renewable energy. Starting with the ‘REFRON’ brand of refrigerants, the company expanded into fluorospeciality chemicals, exporting to over 75 countries.
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