India Chem 2022
Recently the 12th Biennial International Exhibition and Conference – India Chem 2022 has been inaugurated in New Delhi.
The conference theme is “Vision 2030: Building India through Chemicals and Petrochemicals”.
Status of Chemical Industry in India:
- India’s chemical industry is extremely diverse and can be broadly classified into bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers and fertilizers.
- India is the fourth largest producer of agrochemicals globally, after the United States, Japan and China.
- India is the sixth largest producer of chemicals in the world.
- India is the second largest producer and exporter of dyes, accounting for 16 per cent of the global production.
- Except for a few hazardous chemicals, the chemical industry in the country does not require a license.
- India occupies an important place in the export and import of chemicals globally. It ranks fourteenth in exports (excluding pharmaceuticals) and eighth in imports.
- Under the Union Budget 2022-23, the government allocated Rs 209 crore to the Department of Chemicals and Petrochemicals.
- ‘Production-Linked Incentive’ (PLI) schemes have been introduced to promote bulk drug parks.
- To create an end-to-end manufacturing ecosystem through cluster development, the government is planning to implement PLI system with 10-20% output incentive for agrochemical sector.
- The target of 2034 for the chemical and petrochemical sector has been set by the government to explore opportunities to improve domestic production, reduce imports and attract investments in the sector.
Source – PIB