Role of Start-ups to Make Chemical Industry Aatma Nirbhar

For an industry born out of innovation and pivotal to modern society, however, the Indian chemical industry will remain strong. The effects of the Coronavirus pandemic will certainly echo through many industries and their supply chains, providing an opportunity to learn and most likely change the way they work in the future.

India is the sixth largest producer of chemicals globally and third largest producer in Asia in terms of output. The country ranks third globally in the production of agro chemicals and contributes around 16 per cent to the global dyestuff and dye intermediates production. The sector, covering more than 70,000 commercial products, is projected to reach $304 bn by 2025 from $178 bn in 2018-19.

While the industry is chalking out the strategy to face the challenges posed by the COVID-19, it also offers an opportunity to develop a long term strategy to sort out the issues of the industry. The e-Conference session, while discuss the survival and way forward for the industry, will also focus what should be the way for a sustainable Indian chemical industry to make the sector more resilient.