Exports of Indian chemicals register growth of 106% in 2021-22 over 2013-14
Tags: National Economy/Finance
The export of Indian chemicals has registered a growth of 106 percent in 2021-22 as compared to the year 2013-14.
India's chemical exports for 2021-22 set a record at US$ 29296 million, while India's chemical exports stood at US$ 14210 million in 2013-14.
The growth in exports of chemicals has been driven by a jump in shipments of organic, inorganic chemicals, agrochemicals, dyes and dye intermediates, specialty chemicals.
Today the Indian chemical industry has become a global player and earns foreign exchange for the country with the "Make in India" approach.
India’s position in chemical production
India is the sixth largest producer of chemicals in the world and the third largest in Asia.
India ranks 14th position in export of chemicals.
Today India is a leader in the production of dyes and contributes 16%-18% of the world's dyestuff exports.
Indian dye is exported to more than 90 countries. India is the fourth largest producer of agrochemicals in the world and manufactures more than 50% of technical grade pesticides.
About 50% of the agrochemicals in the world are exported from India.
India is the largest producer and exporter of castor oil in the world and is responsible for almost 85-90 % of total global exports in this segment.
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