Chemicals & Fertilizers - #SectorUpdates
India is a hub for chemical companies. The chemical industry is one of the most significant contributors to the growth and development of our economy. The quantum of production of key chemicals increased to 21.52 lakh tonnes during 2022-23 till May 2022 to be precise as compared to 19.97 lakh tonnes during the corresponding period of the previous year, and it recorded an increase of 7.75%. The growth of the Indian chemical industry is expected to double to reach USD 304 billion by 2025, posting an annual growth rate of 15-20%. An investment worth INR 8 lakh crore is anticipated in this sector by 2025.