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Chemicals Industry

Chemical Industry In India

Introduction
Basic chemicals and their related products (petrochemicals, fertilisers, paints, varnishes, glass, perfumes, toiletries, pharmaceuticals, etc.) constitute a significant part of the Indian economy. Among the most diversified industrial sectors, chemicals cover an array of more than 70,000 commercial products.
India is the sixth largest producer of chemicals globally and the third largest producer in Asia in terms of output. The country ranks third globally in the production of agro-chemicals and contributes around 16% to the global dyestuff and dye intermediates production.
Key Markets and Export Destinations   
Total export of chemicals which include dyes and dye intermediates, organic chemicals, inorganic chemicals, agro-chemicals, cosmetics & toiletries, and castor oil stood at US$ 19.09 billion during the year 2018-19 and stood at US$ 43.14 billion during FY20 (till March 2020 provisional).
The US, the UAE, the UK, Bangladesh and Saudi Arabia are the leading importers of cosmetics, toiletries and essential oils. 
From April 2019 to January 2020, export of dyes increased 9.12% y-o-y to US$
2.27 billion. During the period, export of essential oils increased 22.33% to US$ 171.79 million, cosmetics and toiletries increased 5.62% to US$ 1,444.15 million, while castor oil export stood at US$ 769.05 million. Export of inorganic, organic and agro-chemicals stood at US$ 863.38 million, US$ 7.14 billion, and US$ 2.83 billion between April 2019 to January 2020, respectively.
Total export of chemicals which include dyes and dye intermediates, organic chemicals, inorganic chemicals, agro-chemicals, cosmetics & toiletries, and castor oil stood at US$ 14.11 billion between April 2020 to January 2021 (Provisional).
The total organic & inorganic chemicals export accounted for US$ 19.91 billion from April 2020 to February 2021 and for February 2021 it was US$ 2.03 billion.
Basic Chemicals, Cosmetics & Dyes Export Promotion Council
The promotion of product groups such as dyes and dye intermediates, basic inorganic and organic chemicals, including agro-chemicals, cosmetics, toiletries, essential oils, incense sticks, castor oil and its derivatives, is handled by the Basic Chemicals, Cosmetics & Dyes Export Promotion Council, popularly known as CHEMEXCIL. The Council organises promotional events and fairs to help exporters identify potential markets abroad and providing publicity and marketing back-up.
Recent News
The chemicals sector is expected to double to US$ 300 billion by 2025, clocking an annual growth rate of 15-20%. To achieve this, the Government is working on a draft chemical policy that will focus on meeting the rising demand for chemicals and reduce imports.
Source:
  • Directorate General of Commercial Intelligence and Statistics
  • Basic Chemicals, Cosmetics & Dyes Export Promotion Council
  • Department for Promotion of Industry and Internal Trade (DPIIT)

 

Source: India Brand Equity Foundation


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