Minister of State for Health and Family Welfare, Chemicals and Fertilizers, Government of India, Smt. Anupriya Patel, and Shri Uday Samant, Minister of Industries, Government of Maharashtra, to Grace the Event on February 8, 2025
Mumbai, February 6, 2025 – CHEMEXCIL (Basic Chemicals, Cosmetics & Dyes Export Promotion Council), established by the Union Ministry of Commerce and Industry, Government of India, will host its prestigious Export Awards Ceremony at the Grand Hyatt Hotel, Mumbai, on Saturday, February 8, 2025.
The event will be graced by Smt. Anupriya Patel, Minister of State for Health and Family Welfare, Chemicals and Fertilizers, Government of India, along with Shri Uday Samant, Minister of Industries, Government of Maharashtra.
The size of Indian Chemical industry is approx. USD 220 billion in 2022 & is projected to reach USD 300 billion in 2025 and US$ 1 trillion by 2040. It is an integral component of Indian economy, contributing around 7% of India’s GDP. Indian chemicals contribute 2.8 to 3% of total global chemical industry. The Chemical industry in India is highly diversified, covering more than 80,000 commercial products. The industry employs more than 2 million people, both directly and indirectly.
Smt. Anupriya Patel expressed her enthusiasm, stating, “It is indeed a matter of great pleasure that CHEMEXCIL is organizing its Export Awards to felicitate outstanding exporters in basic chemicals, dyes and dye intermediates, cosmetics and toiletries, castor oil, and specialty chemicals. India’s chemical sector has been a crucial pillar of industrial development. As we move towards achieving new milestones in trade and sustainability, I encourage the chemical industry to embrace cutting edge technologies, sustainable practices, and value-added manufacturing. The Government of India remains committed to fostering a business-friendly environment, providing policy support, and facilitating ease of doing business to help our exporters thrive”.
Shri Uday Samant highlighted that the chemical sector is one of the key pillars of India’s industrial growth, contributing significantly to exports, employment, and economic progress.
“CHEMEXCIL has been instrumental in supporting and promoting the chemical industry, facilitating trade, and driving policy initiatives that enhance the sector’s growth,” Mr Samant said.
CHEMEXCIL’s Export Growth and Future Outlook
CHEMEXCIL is poised to cross USD 30 billion in exports for 2024-25. From April to December 2024, exports have already reached USD 21.20 billion (Source:Niryat Portal).
The Council is focusing on emerging markets and promoting "Green Chemicals" and bio-based specialty chemicals to align with global sustainability trends. “These initiatives are set to boost exports significantly,” stated Mr. Abhay Udeshi, Chairman of CHEMEXCIL.
Union Budget 2025-26: A Boon for the Chemical Sector
Mr. Udeshi highlighted that the Union Budget 2025-26 has provided substantial support to the chemical sector. Announced by Hon’ble Finance Minister Shrimati Nirmala Sitharaman, the budget includes:
Reductions in import duties on essential raw materials such as phosphoric acid, boric acid, sorbitol, etc..
Comprehensive support for Micro, Small, and Medium Enterprises (MSMEs).
Key budget initiatives include:
Enhanced Credit Guarantee for MSMEs with term loans up to Rs. 20 crore.
Credit Cards for Micro Enterprises with a limit of Rs. 5 lakh for working capital.
New Schemes for First-Time Women Entrepreneurs from Scheduled Castes and Tribes.
National Manufacturing Mission to support industries of all sizes.
A Rs. 25,000-crore Maritime Development Fund to streamline exports.
An Export Promotion Mission aimed at addressing export challenges.
“The budget facilitates greater trade, boosts manufacturing, promotes exports, and enhances the ease of doing business,” Mr. Udeshi remarked. He emphasized the creation of institutional mechanisms at the state and district levels to promote chemical products, supporting MSMEs and generating employment.
Key Industry Highlights:
6th Largest producer of chemicals globally and 3rd in Asia.
100% FDI permitted via the automatic route (except for certain hazardous chemicals).
16%-18% of global dyestuff exports originate from India, reaching over 90 countries.
4th Largest producer of agrochemicals and 13th largest exporter globally.
Largest producer and exporter of castor oil, accounting for 83.65% of global exports.
India’s chemical exports, under CHEMEXCIL’s guidance, continue to grow, solidifying the country’s position as a global chemical powerhouse.
About CHEMEXCIL
CHEMEXCIL is set by Department of Commerce, Ministry of Commerce & Industry, Government of India, to promote the export of chemical products. The Council actively engages with the government to formulate export oriented policies that support and enhance India’s chemical export.
No comments:
Post a Comment