• Welcome to Team India Global Services Private Limited

Chemical

img

India's chemical sector is extraordinarily diverse, covering more than 80,000 commercial goods and can be divided into bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers, and fertilizers.

India produces 16% of all dyestuffs and dye intermediates in the world. With a global market share of 15%, the Indian colorants sector has also emerged as a significant player.

After the United States, Japan, and China, India is the world's fourth-largest producer of agrochemicals. India’s easy access to the Middle East, the world's largest petrochemical feedstock supplier, benefits the bulk production of petrochemicals.

Reasons for Investing

  • Petroleum, Chemicals, and Petrochemicals Investment Regions (PCPIR), namely Andhra Pradesh, Gujarat, Odisha, and Tamil Nadu, are estimated to attract an investment of US$ 104.36 billion. India is ranked 17th in global chemical exports (excluding pharmaceutical products) and 7th for chemical imports.
  • Duty-free procurement of goods for the functioning of Special Economic Zones (SEZ) like Noida, Kochi, Chennai, etc.
  • MSMEs in domestic chemical sectors have showcased a revenue growth of 18-23%.
  • India boasts world-class engineering facilities as well as significant research and development capabilities. 

Industry Growth Factors

  • India’s specialty chemicals market growth is driven by increased demand from industries such as food processing, personal care, and home care.
  • Indian specialty chemical companies are increasing their capacities to meet increased domestic and international demand.
  • The recent Union Budget has an allocation of US$ 32.2 million for the Department of Chemicals and Petrochemicals.
  • With global firms looking to de-risk their supply chains heavily reliant on China, India's chemical sector has a lot of room to grow.

 

TIGS brings out the best solutions to assist your business in finding the right way forward to penetrate the Indian market. We are a one-stop solution to make the right trade and investment decisions in India as per your business needs.

To get more information about this industry, let's connect!