Indian chemical industry is expected to double its size and reach $300 billion by 2025 according to Indian Chemical Council (ICC), the national apex body of chemical industry.

The chemical industry is an industry-of-industries with a combined turnover of $160 billion growing at 100 basis points faster than India’s GDP, making it an important sector to propel the growth of the nation’s economy. Being one of the most diversified industries, the chemical industry in India covers more than 80,000 commercial products and is expected to double its size at $300 billion by 2025.

Outlining its vision for 2025 at the 13th Annual Indian Chemical Industry Outlook Conference, ICC dedicated its vision to growth and development of the chemical industry despite growing challenges like environmental sustainability, climate change and trade flow restrictions & trade wars. Focus at the conference was on digitalisation, global mergers & acquisitions and downstream specialty chemicals.

Speaking at the conference, Vijay Sankar, President, Indian Chemical Council said, “The use of chemicals in our modern life is indispensable, now more than ever, with most modern industries being deeply dependent on the chemical industry, ranging from soaps to automobiles. It is one of the most diversified industries, and India has observed high growth in the past decade while holding substantial potential for future growth as well.”

“Sustainability and safety is a key focus ICC has been advocating though its Nicer Globe and Responsible Care initiatives. It is now imperative to create a new ecosystem for the Indian chemical industry moving closer to customer needs with collaboration and convergence as the new mantra of growth,” added Sankar.

Established in 1938, ICC represents all branches of the chemical Industry in India such as organic & inorganic chemicals, plastics & petrochemicals & petroleum refineries, dyestuffs & dye-intermediates, fertilizers & pesticides, specialty chemicals and paints etc.