Apr 27:Exports of Indian Chemicals have registered a growth of 106% in 2021-22 over 2013-14. India’s exports of Chemicals for 2021-22 hit a record at US$ 29296 Million, whereas in 2013-14 India’s Chemical exports were US$ 14210 Million.
Highlighting the achievement in a Tweet, Union Minister for Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Shri Piyush Goyal said that the export growth would be a boost to Prime Minister, Shri Narendra Modi’s Aatmanirbhar Bharat Abhiyan.
The export growth of Chemicals has been achieved because of a surge in shipments of Organic, Inorganic Chemicals, Agrochemicals, Dyes, Dye intermediates, and Specialty Chemicals.
Today Indian Chemical industry has become a global player and earns foreign exchange for the nation with the “Make in India” approach. India is the 6th Largest producer of Chemicals in the world and 3rd in Asia. India ranks 14th position in the export of chemicals.
Today India leads in Dyes production and contributes 16%-18% to the world’s dyestuff exports. Indian Dye is exported to over 90+ countries. India is the 4th largest producer of agrochemicals in the world and manufactures more than 50% technical grade pesticides.
Almost 50% of agrochemicals are exported from India to the world. 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.
India exports to more than 175 countries and its top destinations are the USA, China, and new markets viz. Turkey, Russia, and North-East Asian Countries (China, Hongkong, Japan, Korea RP, Taiwan, Macao, Mongolia) have also been added.
The surge in Chemical exports has been achieved because of sustained efforts on the part of the Department of Commerce, Indian Member Exporters. Also, various initiatives have been taken by CHEMEXCIL by using Grant in Aid under Market Access Initiative Scheme, organizing B2B exhibitions in different countries, exploring new potential markets through product-specific and marketing campaigns with the active involvement of Indian Embassies., Providing financial aid in statutory compliance in overseas product registration, etc.
This export growth has been achieved in spite of unprecedented logistical challenges like high freight rates, container shortages, etc. An increase in Chemical products exports has benefitted small and medium exporters from Gujarat, Maharashtra, Karnataka, Tamil Nadu, and Andhra Pradesh.
Over the years, the industry has been modernizing through new molecules, innovations in technology, product profile, and quality to emerge as a modern World-class Chemical industry ready to take on global competition.
The call for Aatmanirbharta is not about reverting to economic isolationism. Its essential aim is to ensure India’s position as a key participant in global supply chains. Through building capacities at home, India intends to contribute to mitigating disruptions in global markets. It is important to identify products and commodities where India has the ability or potential to expand domestic production and enhance global availability.
A self-reliant India will ensure the production of quality products on a large scale, fulfill India’s requirements and boost the export of surplus production.
To excel in economic growth, there is a greater need for focused efforts to maintain our position and growth in world trade, and the Government is taking all the necessary steps to push Industrial growth and encourage exports.
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