India’s Chemical Exports to Cross US$ 30B in FY25, Industry Poised for Rapid Growth - News

Basic Chemicals, Cosmetics & Dyes Export Promotion Council popularly known as CHEMEXCIL, predicts that India’s chemical exports will exceed US$ 30 billion in the present financial year (FY25) after a minor decrease during 2023-24. The chemical industry’s overall market size will achieve a value of US$ 300 billion by the end of 2025, powered by Government and favorable policies announced in the latest Union Budget.

The export market for organic and inorganic chemicals decreased by 3.17 percent to US$ 29.3 billion in the fiscal year 2024. Between April and December 2024, exports demonstrated a year-on-year growth of 4.97 percent—according to Abhay Udeshi, Chairman, CHEMEXCIL—reaching US$ 21.2 billion in total export value.

Udeshi stressed that the council directs its focus toward advancing emerging markets as well as green chemicals, including bio-based specialty chemicals, which aligns with current worldwide sustainability trends. The anticipated projects will lead to substantial export growth, according to his forecast.

The industry generates 7 percent of India’s GDP value through the production of more than 80,000 commercial products while employing over 2 million people. The chemical sector of India prepares to expand its international market presence through duty rate reductions on phosphoric acid, boric acid, and sorbitol combined with incentives for MSME businesses.