Indian Economy News

Exports of Indian chemicals register growth of 106% in 2021-22 over 2013-14

Indian chemical exports increased by 106% in 2021-22 over 2013-14. Chemical exports from India reached a new high of US$ 29,296 million in 2021-22, compared to US$ 14,210 million in 2013-14. India is the world's sixth largest chemical manufacturer and Asia's third. In terms of chemical exports, India is ranked 14th.

Over time, the industry has modernised through new molecules, technological breakthroughs, product profile, and quality to become a world-class chemical industry ready to compete on a worldwide scale.

Organic and inorganic chemicals, agrochemicals, dyes and dye intermediates, and specialty chemicals all contributed to the increase in chemical exports. With the "Make in India" concept, the Indian chemical sector has grown into a global player that earns foreign cash for the country. 

Chemical exports have increased as a result of ongoing efforts by the Department of Commerce and Indian Member Exporters. CHEMEXCIL has also taken a number of initiatives, including using Grant in Aid under the Market Access Initiative Scheme, organising B2B exhibitions in various countries, exploring new potential markets through product-specific and marketing campaigns with the active participation of Indian embassies, and providing financial assistance in statutory compliance in overseas product registration.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.