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GS-III : Economic Issues Industry

05 November, 2022
4 Min Read

India Chem 2022

India Chem 2022, the 12th Biennial International Exhibition and Conference, was recently opened in New Delhi's Pragati Maidan.
"Vision 2030: Chemicals and Petrochemicals Build India" is the topic of India Chem 2022.

What is the state of the Indian chemical industry?

The vastly diversified Indian chemical sector can be broadly divided into bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers, and fertilizers.
India is the world's fourth-largest producer of agrochemicals, behind China, Japan, and the United States.
The sixth-largest chemical manufacturer in the world is India.
India is the second-largest producer and exporter of dyes, making up around 16% of global output.
With the exception of a few hazardous compounds, the nation's chemicals industry has lost its license.
India ranks eighth in worldwide imports and fourteenth in exports of chemicals, giving it a dominant position in both markets (excluding pharmaceuticals).

What related government initiatives are there?

The Department of Chemicals and Petrochemicals received Rs. 209 crores from the government under the Union Budget 2022–23.
To promote Bulk Drug Parks, production-linked incentive (PLI) schemes have been implemented.
The government intends to construct a PLI system with 10–20% output incentives for the agrochemical industry and to build a cluster-based ecosystem for end-to-end manufacturing.
The government has created a 2034 vision for the chemicals and petrochemicals industry to look at ways to increase domestic output, decrease imports, and draw in investment.

Source: PIB

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India Chem 2022

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What is the state of the Indian chemical industry?

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