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DAILY NEWS ANALYSIS

  • 05 November, 2022

  • 4 Min Read

India Chem 2022

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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