Chemicals & Fertilizers - #SectorUpdates
For numerous industries, including textiles, paper, paints, soap & detergents, medicines and agrochemicals, the chemical industry in India provides a variety of raw materials and building blocks. India ranks third in Asia and is the sixth-largest producer of chemicals in the world. India is ranked 14th in the world for chemical exports. India is the fourth-largest producer of agrochemicals in the world and produces more than 50% share of technical grade pesticides. Overall growth in production of major chemicals in 2021-22 (up to February 2022) over 2020-21 (up to February 2021) has been 14.09% with major rise observed in all of its sub sectors. Castor oil, one of the important oleo chemicals, is produced most widely in India and exported as well. Its exports accounts for about 85 to 90 percent of all global exports in this chemical industry. Dyes are an important aspect under chemical industry and India is the leader in dye manufacturing worldwide whose exports accounts for 16% to 18% of all dyestuffs. More than 90 countries globally import dyes from India. India exports chemicals abroad to more than 175 nations. This accounts for 13% of India’s total exports.