Chemicals

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Today, the global chemical sector, which is vital to our daily existence, is worth almost $4.73 trillion. Asia, which accounts for half of worldwide chemical sales, has been the primary driver of the sector’s expansion during the last 20 years. Almost 80,000 commercial goods are produced in India’s extremely varied chemicals industry. Bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers, and fertilizers are the general categories into which the industry is divided.

With a market value of $178 billion, the Indian sector is ranked sixth in the world for chemical imports (excluding pharmaceutical products) and eleventh for chemical exports (excluding pharmaceutical products). Over two million people are employed in this industry. In terms of size, the Indian Chemical Industry is ranked fourth in Asia and sixth globally. With the exception of

hazardous chemicals, 100% FDI is permitted in the chemical industry under the automated method.

India’s chemical industry will play a crucial role in enabling a variety of industries to satisfy the rising demands of a developing economy and contribute to the nation’s growth momentum as it grows to become the third largest economy by 2030. By placing a high value on sustainable manufacturing and the circular economy, the Indian chemical and petrochemical sector hopes to establish India as a sustainable global manufacturing base. To see industry progress, investments in sustainability and safety should not be undervalued and should be given high priority.

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