India is currently the sixth largest chemical producer globally and third in Asia, contributing approximately 7% to the national GDP. By 2026, the industry is expected to be a dominant growth engine in the Asia-Pacific region. Production is forecast to increase by 10.9% in 2026, driven by strong domestic demand, government support (PLI, Make in India), and growing exports in agrochemicals, dyes (16% global share), and specialty chemicals. Specialty chemicals now account for nearly 22% of the market and are expected to grow at a CAGR of 12%, driven by demand in EVs, electronics, and sustainable materials.

Despite high exports, India faced a $31 billion trade deficit in chemicals in 2023, largely due to heavy reliance on imported petrochemical feedstocks. India spends approximately 0.7% on R&D compared to the global average of 2.3%, hindering indigenous innovation in high-value chemicals.

While facing challenges like import reliance, infrastructure gaps, and raw material volatility, the industry is rapidly expanding, focusing on R&D, sustainability (green chemistry), and integrating into global value chains, aiming to reduce its trade deficit and capitalize on China+1 shifts.

India's chemical industry is on a steep growth trajectory, projected to reach US$ 1 trillion by 2040. This conference aims to serve as a pivotal platform to transform this aspiration into actionable progress. By fostering collaboration between academia and industry and aligning with national priorities like India's net-zero 2070 target, the Summit will help the sector drive sustainable growth and establish itself as a high-value manufacturing powerhouse.