As India marks World MSME Day, leaders from the country's chemical industry have called for a policy shift towards improving competitiveness, saying manufacturers need stronger supply chain resilience, easier access to critical raw materials, and greater policy support to navigate an increasingly fragmented global trading environment.
India’s chemical industry, valued at around $250 billion in 2024, is among the country’s largest manufacturing sectors, contributing about 7% to the gross domestic product (GDP). The industry, which spans bulk chemicals, specialty chemicals, petrochemicals, agrochemicals, polymers, and fertilisers, is increasingly facing headwinds from geopolitical tensions, higher logistics costs, evolving trade barriers, and dependence on imported feedstock.
