Indian chemical industry is the 3rd largest in Asia and the 6th largest in the world. It is growing at 5-6% over the last few years and expected to reach 8-9% growth in coming years. Domestic chemical industry is expected to grow to $226 billion by 2020. Increasing urbanization are fuelling the end consumption demand for paints, textiles, adhesives and construction, which, in turn, leads to substantial growth opportunity for chemicals companies.
The Indian chemicals industry has a diversified manufacturing base that produces world-class products. There is a substantial presence of downstream industries in all segments. Basic chemicals has over 50% share of total chemical production. Speciality chemicals and knowledge chemicals forms 20% and 30% respectively.
Indi Read More
Chemical sector in India is expected to double to $300 billion by 2025, registering an annual growth rate of 15-20 per cent. The industry is targeting chemical exports of $18 billion by 2020 from $12 billion in FY17. In the first half of this fiscal, exports rose almost 27 per cent to $7.19 billion. The domestic chemical industry is the third largest in Asia and seventh in the world. The impact of measures initiated by government will be visible from the current financial onwards. Read More
Indian government has imposed duty on imports of 'Methyl Ethyl Keton' from China, Japan, South Africa and Taiwan. Cetex Petrochemicals Ltd had filed an application for investigations into alleged dumping of the chemical. Directorate General of Antidumping and Allied Duties (DGAD) has investigated the same and recommended imposition of duties for a period of 3 years. The duty is also aimed at ensuring fair trading practises and creating a level-playing field for domestic producers with regard to foreign producers and exporters. India has already imposed anti-dumping duty on several products to check below-cost imports from countries including China. Read More