Strong domestic growth in Indian chemical market

As the Chinese economy continues to be under pressure and oil prices still are a concern, most manufacturers are seeing a glimmer of hope from reports of a strong domestic growth.

The Indian chemical industry is expected to reach $224 billion by 2017, up from the current $144 billion, while the value of the global chemical industry is estimated at $3.26 trillion. This suggests that there is excellent potential to increase our share in the global trade. Also in the last decade, the industry has seen an increasing shift towards Asia, where Indian chemical industry stands out to be the third largest producer and 12th in the world in terms of volume.

And that’s why this year companies will look homeward and cash in on the potential of the domestic market.

Pharma will be one of the focus sectors for growth; most importantly the bulk drugs industry. Waking up to the realities of the trade, we are now looking to reduce our dependence on foreign imports. Read all about the bulk drugs in this issue. Also, read about the medical wonder ‘nanomedicine,’ and how it will help reign over life-threatening ailments such as cancer, cardiovascular diseases, AIDS, to name a few.

In our ‘Expert Viewpoint’ section take a look at our what experts from PWC have to say about the pharma industry. Also, see what a sugar manufacturer Shree Renuka Sugars expects from a chemical manufacturer. Furthermore, glance at our logistics section to see what a consultant has to say about transportation of dangerous goods in the country.

Focusing on the coolant industry we had a brief chat with India Glycols leaders, wherein the industry is shifting more towards bio-based raw materials.

Starting this month, we have added our ‘Jobs,’ ‘Tenders,’ and ‘IT in Chemicals’ sections in the magazine. Our Jobs will feature national and international companies on the lookout for quality managers, research chemists among others, while the Tenders listing will give you an idea of the opportunity to supply chemicals in bulk across the country. For our IT In Chemicals read the opinions of KPMG analysts about the opportunities & risks for chemical manufacturers.

The Chemical Today digital magazine is available for a yearly subscription on issuu.com. And yes, download our Worldofchemicals magazine app for both IOS and Android!

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