{"id":28276,"date":"2024-01-26T04:51:19","date_gmt":"2024-01-25T23:21:19","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=28276"},"modified":"2024-01-27T04:52:46","modified_gmt":"2024-01-26T23:22:46","slug":"inside-the-high-flying-indian-chemical-industry-2","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/","title":{"rendered":"Know About the Indian Economy: Chemical Industry"},"content":{"rendered":"<div class=\"embed-container\">\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/Gsl_bZ18Iyo?si=8ZrL8w75MyGYl8nx\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>When discussing major economic sectors, one often overlooked gem is India&#8217;s chemical industry. Ranked 6th globally in chemical production, 3rd in Asia, and 14th in exports, India&#8217;s chemical sector is a vital hub for various industries like textiles, paper, paints, pharmaceuticals, and agrochemicals.<\/p>\n<p>&nbsp;<\/p>\n<p>In agrochemicals, India is the 4th largest producer, manufacturing over 50% of technical-grade pesticides.<\/p>\n<p>&nbsp;<\/p>\n<p>The industry&#8217;s growth, at 1.2-1.5 times the GDP growth, underscores its significance. India leads as the world&#8217;s largest castor oil producer, responsible for 85-90% of global exports.<\/p>\n<p>&nbsp;<\/p>\n<p>Valued at $178 billion, India&#8217;s Chemicals and petrochemicals sector is set for a substantial investment of INR 8 lakh crore by 2025.<\/p>\n<p>&nbsp;<\/p>\n<p>The nation exports chemicals to 175+ countries, contributing 13% to India&#8217;s total exports.<\/p>\n<p>&nbsp;<\/p>\n<p>Moreover, India ranks 2nd globally in both chemical fertilizer production and consumption, with a remarkable 75% increase in per-hectare fertilizer usage over the last two decades.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Key Achievements\u00a0<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>Scientists have uncovered a novel way to enhance the efficiency of converting waste heat into electricity using Metavalent bonding in quantum materials.<\/p>\n<p>&nbsp;<\/p>\n<p>India boasts the 11th spot in global chemical exports (excluding pharmaceutical products) and stands 6th in imports. This showcases the country&#8217;s significant role in the chemical industry.<\/p>\n<p>&nbsp;<\/p>\n<p>Notably, the Indian chemical sector provides employment to over 2 million individuals.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Statistics<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>In the fiscal year 2022-23, the production of Alkali Chemicals saw a 5% increase compared to the previous year. Major Chemicals witnessed a significant increase in production, reaching 130.22 lakh tonnes, a 2.19% rise compared to the previous year.<\/p>\n<p>&nbsp;<\/p>\n<p>Additionally, the combined exports of Major Chemicals and Major Petrochemicals for the same period totaled INR 128.34 thousand crores. These figures reflect a positive trend in the chemical industry&#8217;s growth and productivity.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/kuvera.in\/dl\/v2\/?redirect_to=fixed-deposit\/all\"><img loading=\"lazy\" class=\"alignnone wp-image-26868\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/10\/400X100-Size-300x75.png\" alt=\"FD Rates October 2023\" width=\"400\" height=\"100\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/10\/400X100-Size-300x75.png 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/10\/400X100-Size-150x38.png 150w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/10\/400X100-Size.png 400w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Growth Drivers\u00a0<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>Indian Potash Limited (IPL) has partnered with Israel Chemicals Limited (ICL) to supply Muriate of Potash (MOP) from 2022 to 2027, aiming to boost agriculture production.<\/p>\n<p>&nbsp;<\/p>\n<p>The Indian government is working on achieving self-sufficiency in Urea and DAP production through &#8216;Green Hydrogen.&#8217;<\/p>\n<p>&nbsp;<\/p>\n<p>India has increased its refining capacity from 215 MMTPA to 251.2 MMTPA, ranking as the fourth largest globally.<\/p>\n<p>&nbsp;<\/p>\n<p>The Department of Chemicals &amp; Fertilizers has formed a Joint Task Force to explore the use of by-products from the Petroleum and Petrochemical Industries for crucial intermediates in the Pharmaceutical and Agrochemical Industries.<\/p>\n<p>&nbsp;<\/p>\n<p>Prime Minister Modi has inaugurated 600 PM Kisan Samruddhi Kendras (PM-KSK) under the Ministry of Chemicals &amp; Fertilizers. These centers will provide a range of services to farmers, including agri-inputs, testing facilities, and information on government schemes.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Industry Trends\u00a0<\/strong><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Agro-chemicals<br \/>\nIndia&#8217;s agrochemical sector is set to grow at 8-10% annually until 2025.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>Petrochemicals<br \/>\nThe domestic demand for petrochemicals in India is forecasted to increase by 8% yearly over the next decade. Additionally, petrochemical capacity will expand by over 40% in the next five to seven years.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>Specialty Chemicals<br \/>\nSpecialty chemicals contribute to over 50% of India&#8217;s total chemical exports. This is expected to exhibit the most accelerated growth, with projections indicating a value of approximately $50 billion by 2025.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Budget Allocation 2023-24<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>The Department of Chemicals and Petrochemicals receives INR 173.45 cr.<br \/>\nThe Department of Fertilisers is allocated INR 1,75,148.48 cr.<\/p>\n<p>&nbsp;<\/p>\n<p>India&#8217;s chemical industry shines as a global leader, making significant contributions to agriculture, technology, and the nation&#8217;s economy. With promising growth drivers, remarkable achievements, and proactive government initiatives, the sector is poised for a vibrant future. As the industry evolves and expands, it continues to empower millions with employment opportunities. India&#8217;s journey in the chemical domain exemplifies both progress and potential.<\/p>\n<p>&nbsp;<\/p>\n<h4><\/h4>\n<h4 style=\"color: black; font-size: 18px;\">Interested in how we think about the markets?<\/h4>\n<p>Read more:\u00a0<a href=\"https:\/\/kuvera.in\/blog\/category\/zen-and-the-art-of-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Zen And The Art Of Investing<\/strong><\/a><\/p>\n<p>Check out all our videos on YouTube and get smart about investing<\/p>\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/NoL0S2tuo1Y\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/div>\n<p>&nbsp;<\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit <a href=\"https:\/\/kuvera.in\/\"><strong>kuvera.in<\/strong><\/a> to discover <a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\"><strong>Direct Plans<\/strong><\/a> and <strong><a href=\"https:\/\/kuvera.in\/fixed-deposit\/all\">Fixed Deposits<\/a><\/strong> and <a href=\"https:\/\/kuvera.in\/user\/login\"><strong>start investing today.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; When discussing major economic sectors, one often overlooked gem is India&#8217;s chemical industry. Ranked 6th globally in chemical production, 3rd in Asia, and 14th in exports, India&#8217;s chemical sector is a vital hub for various industries like textiles, paper, paints, pharmaceuticals, and agrochemicals. &nbsp; In agrochemicals, India is the 4th largest producer, manufacturing over [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":28277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[880,335],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Know About the Indian Economy: Chemical Industry<\/title>\n<meta name=\"description\" content=\"When discussing major economic sectors, one often overlooked gem is India&#039;s chemical industry. Ranked 6th globally in chemical production.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Know About the Indian Economy: Chemical Industry\" \/>\n<meta property=\"og:description\" content=\"When discussing major economic sectors, one often overlooked gem is India&#039;s chemical industry. Ranked 6th globally in chemical production.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Kuvera\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kuvera.in\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-25T23:21:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-26T23:22:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/01\/Youtube-Thumbnail-11.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kuvera\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:site\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kuvera\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Know About the Indian Economy: Chemical Industry","description":"When discussing major economic sectors, one often overlooked gem is India's chemical industry. Ranked 6th globally in chemical production.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/","og_locale":"en_US","og_type":"article","og_title":"Know About the Indian Economy: Chemical Industry","og_description":"When discussing major economic sectors, one often overlooked gem is India's chemical industry. Ranked 6th globally in chemical production.","og_url":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/","og_site_name":"Kuvera","article_publisher":"https:\/\/www.facebook.com\/kuvera.in","article_published_time":"2024-01-25T23:21:19+00:00","article_modified_time":"2024-01-26T23:22:46+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/01\/Youtube-Thumbnail-11.png","type":"image\/png"}],"author":"Kuvera","twitter_card":"summary_large_image","twitter_creator":"@Kuvera_In","twitter_site":"@Kuvera_In","twitter_misc":{"Written by":"Kuvera","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/#article","isPartOf":{"@id":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/"},"author":{"name":"Kuvera","@id":"https:\/\/kuvera.in\/blog\/#\/schema\/person\/6b774e7d3516942b9e0242c93d7cb307"},"headline":"Know About the Indian Economy: Chemical Industry","datePublished":"2024-01-25T23:21:19+00:00","dateModified":"2024-01-26T23:22:46+00:00","mainEntityOfPage":{"@id":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/"},"wordCount":645,"commentCount":0,"publisher":{"@id":"https:\/\/kuvera.in\/blog\/#organization"},"articleSection":["Data Stories","KuveraQuickTakes"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/","url":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/","name":"Know About the Indian Economy: Chemical Industry","isPartOf":{"@id":"https:\/\/kuvera.in\/blog\/#website"},"datePublished":"2024-01-25T23:21:19+00:00","dateModified":"2024-01-26T23:22:46+00:00","description":"When discussing major economic sectors, one often overlooked gem is India's chemical industry. Ranked 6th globally in chemical production.","breadcrumb":{"@id":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/kuvera.in\/blog\/inside-the-high-flying-indian-chemical-industry-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kuvera.in\/blog\/"},{"@type":"ListItem","position":2,"name":"Know About the Indian Economy: Chemical Industry"}]},{"@type":"WebSite","@id":"https:\/\/kuvera.in\/blog\/#website","url":"https:\/\/kuvera.in\/blog\/","name":"Kuvera","description":"Wealth Management, Simplified","publisher":{"@id":"https:\/\/kuvera.in\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kuvera.in\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/kuvera.in\/blog\/#organization","name":"Kuvera","url":"https:\/\/kuvera.in\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kuvera.in\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/cropped-cropped-kuvera-logo-dark-3.png","contentUrl":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/cropped-cropped-kuvera-logo-dark-3.png","width":83,"height":13,"caption":"Kuvera"},"image":{"@id":"https:\/\/kuvera.in\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/kuvera.in","https:\/\/twitter.com\/Kuvera_In","https:\/\/www.instagram.com\/kuvera.in","https:\/\/www.linkedin.com\/company-beta\/10456535\/"]},{"@type":"Person","@id":"https:\/\/kuvera.in\/blog\/#\/schema\/person\/6b774e7d3516942b9e0242c93d7cb307","name":"Kuvera","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kuvera.in\/blog\/#\/schema\/person\/image\/","url":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/07\/social-media-logo-02-alt-v3-150x150.jpg","contentUrl":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/07\/social-media-logo-02-alt-v3-150x150.jpg","caption":"Kuvera"},"description":"Kuvera is India's first free Direct Mutual Fund investing platform. We bring you goal-based investing and innovative features like Tax Harvesting, TradeSmart, Family Account and more!","sameAs":["http:\/\/kuvera.in"],"url":"https:\/\/kuvera.in\/blog\/author\/kuvera-research\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/posts\/28276"}],"collection":[{"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/comments?post=28276"}],"version-history":[{"count":3,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/posts\/28276\/revisions"}],"predecessor-version":[{"id":28280,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/posts\/28276\/revisions\/28280"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/media\/28277"}],"wp:attachment":[{"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/media?parent=28276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/categories?post=28276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/tags?post=28276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}