Indian Chemical Industry To Double Its Size To $300 Bn In The Next 5 Years
Indian Chemical Council (ICC), the apex body dedicated for the growth and development of chemical industry in India, is aiming to double the size of the industry to $300 billion by 2025. The ICC’s conference titled ‘Making India’s Chemical Sector Future Ready’ highlighted the future prospects of Indian chemical industry.
“The Indian chemical industry has witnessed robust growth in the past decade and the potential for future growth is significant. In the coming years, India is expected to rise both as a manufacturing capital for valued goods as well as a consumer-driven economy, from a broader perspective,” said Vijay Sankar, President, ICC. Also, factors such as growth in specialty chemicals and pharmaceuticals, low per capita consumption leaving headroom for growth and likely demand growth from paints, textiles and diversified manufacturing base, would scale up the potential of Indian chemical industry, he added.
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