The chemical industry has seen a multi-fold increase in
recent years. India is now the sixth largest chemical-producing nation. India's chemical and petrochemicals markets are
estimated to exceed $178 billion. Growth could be further accelerated by
the anticipation of favorable legislative policies in India's upcoming Budget.

PLI
scheme for chemicals India's demand for petrochemicals has
increased rapidly and will likely continue to grow over the next 20 years. The demand for commodity polymers and fibre intermediates,
speciality petrochemicals, and elastomers is expected to increase across the
board. To encourage domestic manufacturing, the
government has developed a Production Linked Incentive program (PLI) for the
chemical sector. We expect a positive trend towards the PLI
scheme this year.

Specialty chemicals export benefitsIndia is one of the top global exporters of chemical
products. The country's exports of petroleum products...