The chemicals industry in India is experiencing a boom. More than two million employees – and the ‘Make in India’ campaign not least of all – underline the fact that the sector is one of the country’s most important. The ‘Make in India’ campaign is an initiative launched by the Indian government and is designed to encourage companies to develop, manufacture and process products that have been made domestically. The aim is to create incentives for targeted investments in various sectors, including pharmaceuticals and chemicals. The market size of the chemicals & petrochemical sector is approx. USD 178 billion according to Invest India, and this figure will probably increase to USD 300 billion by 2025. The geographical proximity to the Middle East as a source of petrochemical raw materials also plays a huge role in this growth rate.
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