Specialty Chemicals: Growing Share of India in Global Market
Growing domestic demand, higher realisations and better exports are fueling the growth of the Indian specialty chemicals industry. The robust performance of the sector prompted specialty chemical manufacturers to ramp up their production capacity to meet the demand. Estimates suggest that Indian manufacturers had earmarked a capex of around Rs 6000 crores in fiscal 2021-22. While export growth is expected to accelerate to 17 -18%, domestic demand will surge to around 20% due to strong demand from agrochemicals, FMCG, pharmaceutical, textile and other sectors.