India Chem 2016: Government initiatives to help Indian chemical industry to grow at 9%/year

摘要

Several initiatives by the Indian government are expected to boost growth in the Indian chemical industry and improve the ease of doing business in India, say experts at the India Chem 2016 conference that began today at Mumbai. The biennial event is jointly organized by the Federation of Indian Chambers of Commerce and Industry (FICCI; New Delhi); and the Department of Chemicals and Petrochemicals, which is part of the Indian government’s Ministry of Chemicals and Fertilizers. The Indian chemical industry is expected to grow at 9%/year over the next five years, and it is likely to reach $226 billion by 2020, says Anuj Kumar Bishnoi, secretary of the Department of Chemicals and Petrochemicals. The Indian chemical industry was valued at about $147 billion in 2015 and accounted for about 3% of the global chemical industry in terms of value, Bishnoi says.