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Distribution Business in Chemical Industry

Chemical Industries Business

Indian chemical industry is one of the long-established sectors of the country, which has played an essential role in the country’s economic development. This sector is a part of one of the crucial goods industry and serves as a critical input for industrial and agricultural development.

In the field of industrial and agricultural development in India, the chemical industry has given an immense contribution. It is one of the oldest industries in India with most diversified segments that includes basic chemicals and its products such as petrochemicals, gases, paints, fertilizers, pharmaceuticals, dyes, etc. Petrochemicals, synthetic fibers, pharmaceuticals, fertilizers, and pesticides constitute over 85% of the market. The rest 15% comprises a wide range of chemical intermediate and industrial or specialty chemicals which have a market of over Rs 230 billion (counting imports of about Rs 15 billion).

The industry is sure to experience a robust in future as its business growth volumes have been predicted to be more than double in 2035 than what it is now. United Nations Industrial Development Organization (UNIDO) has admitted that the Indian chemical industry has witnessed powerful growth in the erstwhile decade and has been rated 6th largest in the world and 3rd greatest in Asia. It is predicted to register a growth of 8-9% in the next decade and increase its share twice in the global chemical industry to 5-6% by 2021, which gives an indication of its importance in the country’s industrial growth.

The government has made 100% FDI admissible and has De-licensed most chemical products excluding those that are hazardous in nature to attract investments in this sector. Due to consistent and rising investment; this sector has proved to be an investment-friendly zone. In order to ensure the development of the country as a major chemical hub, the government has set up petroleum, chemicals, and petrochemical investment regions (PCPIR). These regions guide investors for building manufacturing facilities for domestic and export-led production of petroleum, chemicals, and petrochemicals.

India is coming forth as an emerging economy with huge growth rates and heavy domestic & International demand for chemicals. The Indian Chemical Industry will soon be one of the most profitable industries to invest in, in the coming years. Distributors who are looking to establish themselves and gain a foothold in this domain, should definitely invest in this industry without further ado.

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