Leading Chemicals Manufacturers and Exporters in India - IBEF
India’s chemicals industry is extremely diversified, with bulk chemicals, specialty chemicals, and agrochemicals as the largest sectors within it. The country is currently the fourth-largest chemicals manufacturers of agrochemicals after the US, Japan, and China. The domestic chemicals sector's small and medium enterprises are expected to showcase 18-23% revenue growth in FY22 owing to an improvement in domestic demand. Also, the Indian chemicals Industry is the world's fifth largest chemicals exporters.
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Plastic manufacturers in India can manufacture all kinds of plastic materials and products. They have the raw material to manufacture polymers, the technology to initiate the process, and the manpower to meet the demand of both domestic and international markets. That's why the government of India took initiative to promote plastic products and formed Plastics Export Promotion Council. This council works with the sole objective of supporting exporters by actively participating in international trade fairs where Indian exporters can find buyers for their products.
Is you know government took the initiative to promote the goods made in the country by setting up the Plastics Export Promotion Council (PLEXCONCIL) and It was established on 15th July 1955. This council is a non-profit organization that supplies high-quality products. Due to this, plastic manufacturers in India developed and produced both raw materials and finished goods to meet the needs of domestic and international markets.
How does the pharma sector contribute to India's GDP?
The pharmaceutical industry in India is the provider of generic drugs globally. India also has the potential to expand its pharmaceutical industry. More than 80% of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) are supplied by Indian pharmaceutical firms. India is projected to grow at an annual rate of 6.9% for the next five years, which is much higher than its GDP growth. Pharmaceutical companies in India also have a large base of trained pharmacists who can meet healthcare needs in rural areas. India Brand Equity Foundation Provides you with all details about pharmaceuticals.
India's forest products industry is the biggest exporter of guar gum, sesame seeds, and shellac. Also the second largest exporter of medicinal plants in the world. Forest-based industries produce large quantities of shellac and forest products, which are internationally recognized for their superior quality. Forest products in India contribute significantly to the lives of millions of rural and forest-dependent poor people. In addition, the total export of shellac and forest products from India stood at US$ 2.4 billion during 2020-21. Also, visit the India brand equity foundation website.
Indian spices have been in demand since medieval times when European traders came to India in search of agricultural products that could enhance the quality and taste of their food. Spices manufacturers in India are doing a great job with the help of IBEF, the institution that promotes Indian brands of flavors and medicinal herbs in the global market. In the global market, various spices brands in India are the biggest exporters of chili, cumin, and turmeric. In FY22, China and the US were the biggest exports of Indian brands of flavors and medicinal herbs.
The Indian pharma sector has passed the nascent stage. Today it is a significant player in the international market that depends on Indian companies for formulations, APIs, and medical devices. India has become the hub of generic medicines in the world. Also, pharmaceutical companies in India supply 80% of the antiretroviral drugs for treating AIDS in the international market. The top 10 Pharma companies in India play a vital role in the growth and development of the global pharmaceutical market.
Forest products industry - IBEF India
India produces the largest forest-based industries of vegetable juices and extracts, guar gum, plants and plant parts, fixed vegetable oils, and other goods. The country delivers about 90% of the world’s guar gum. It also leads to the production of fish meals and soya flour. The forest products industry exports shellac, lac-based products, and other vegetable ingredients to more than 20 countries of the world. Along with this, shellac export promotion council formed to enhance forest products. For more info, visit the India brand equity foundation website.
Indian financial services industry - IBEF India
As the economy growing, there is an increasing demand for financial services. The Indian financial services market has evolved rapidly over the past decade, with the primary shares held by foreign and domestic investors. The Indian financial system has witnessed strong growth over the years, and there have been many mergers, acquisitions, and new ventures in the industry. Financial companies in India which contribute to the economy include Power Finance Corporation Limited, Shriram Transport Finance Company Limited, Bajaj Finance Limited, Mahindra Financial Services Limited, Muthoot Finance Limited, etc.
India's chemical industry is an essential player in the country's economic development. It contributes 2% of GDP and nearly half of the total manufacturing value added (which excludes oil refining) with $92 billion in exports and imports, making it the world's fifth largest chemicals exporters. The country is currently the fourth-largest chemicals manufacturers of agrochemicals after the US, Japan, and China. India supplies chemicals to western Europe, SE Asia (including China), South America, the Middle East, and Africa (including SAARC).
For more info on Chemical manufacturers and chemicals exporters in India, & the growth of the Chemical industry, visit India Brand Equity Foundation.
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