Chemical Industry - News and Analysis

Industry Overview

Imports threaten Indian chemical industry

Details: Category: Industry Overview

Global chemical companies with huge capacities, have turned their attention on developing markets, particularly India as it is a large consumer of various chemicals. Further, India has also lower duty structure of around 5 -7 % compared to higher duty structure of 15 to 20 % in neighbouring countries. Even developed countries have high duty structure. Indian Chemical Council along with support from other bodies like FICCI have asked urgent govt. intervention to protect Indian chemical industry.

Crashing chemicals price puts Indian exporters in distress

Details: Category: Industry Overview

Globally, chemically prices have crashed drastically, eg. Sulphuric acid from Rs.14000/- to Rs.200/- per tonne. Many exporters who have gained by the surge in dollar are now facing cancellation of orders from the importers. They demand huge discounts or refuse to take delivery. Industry people refers to huge amount of orders being held up.