Chemical Industry Outlook

The chemical industry is a cornerstone of the global economy, driving innovation, sustainability, and growth. In India, it contributes 7% to GDP and is valued at $220 billion, with projections to reach $1 trillion by 2040. As the 6th largest producer globally, India leads in specialty chemicals, agrochemicals, and dyes, catering to growing demand in construction, agriculture, and high-tech sectors like semiconductors and EVs. With $31 billion in export targets for 2024–25, the sector thrives on Make in India initiatives, FDI inflows, and technological advancements. Focus on decarbonization, clean energy, and digital innovation positions it as a leader in global markets, contributing significantly to a sustainable future.