News: Exports of Indian Chemicals have registered growth of 106% in 2021-22 over 2013-14.
India’s exports of Chemicals for 2021-22 hit a record at US$ 29296 Million, whereas in 2013-14 India’s Chemical exports was US$ 14210 Million.
| Utility: UPSC, JPSC, BPSC Prelims & Mains Section: Economy / External Sector / Balance of Trade |
Key Points
- The export growth of Chemicals has been achieved because of a surge in shipments of:
- Organic, Inorganic Chemicals, Agrochemicals, Dyes and Dye intermediates, Specialty Chemicals.
- India is the 6th Largest producer of Chemicals in the world and 3rd in Asia.
- India ranks 14th position in the export of chemicals.
- Today India leads in Dyes production and contributes to 16%-18% of the world’s dyestuff exports.
- Indian Dye is exported to over 90+ countries.
- India is the 4th largest producer of agrochemicals in the world and manufactures more than 50% technical grade pesticides.
- Almost 50% of agrochemicals are exported from India to the world.
- India is the largest producer and exporter of castor oil in the world and is responsible for almost 85-90 % of total global exports in this segment.
- India exports to more than 175 countries and its top destinations are the USA, China, and new markets viz. Turkey, Russia, and North East Asian Countries.
