The quantum of production of major chemicals in India increased to 21.52 lakh tonnes during 2022-23 (up to May, 2022) as compared to 19.97 lakh tonnes during the corresponding period of the previous year, recording an increase of 7.75%.

Production of all major chemicals viz. alkali chemicals, inorganic chemicals, organic chemicals have increased except Pesticides & Insecticides and Dyes & Pigments during the period as compared to the last year. The quantum of production of major Petrochemicals declined to 65.06 lakh tonnes during 2022-23 (Up to May 2022) as compared to 72.20 lakh tonnes during the corresponding period of the previous year, recording a decrease of 9.89%.

Production of the major Petrochemicals i.e. Synthetic Fibre, Performance Plastics and Other Petrochemicals increased, while the production of Fibre Intermediate, Polymers, Synthetic Rubber, Synthetic Detergent Intermediates, Olefins, and Aromatics decreased during the period as compared to the last year.

Major Chemicals valued at Rs. 6,990 crore and major Petrochemicals valued at Rs. 4,372 crore were exported in the month of May, 2022. The import of major Chemicals and major Petrochemicals were to the tune of Rs. 5,151 crore and Rs. 13,537 crore respectively during the month.

The combined exports of major Chemicals and Major Petrochemicals in the year 2022-23 (up to May 2022) has increased to Rs. 22,770 crore from Rs. 20,650 crore. The imports have increased to Rs. 35,450 crore from Rs. 28,660 crore over the corresponding period of last year.

While exports and imports have both been more than that of the corresponding period of previous year, the increase in imports has been more. There is a trade deficit of Rs. 12,690 crore in the current year in comparison to a trade deficit of Rs. 8,010 crore in the corresponding period of the previous year.