Budget 2024: Chemical firms want ease of doing business, SOPs to help compete against China

The chemical industry in India contributes 7% to India’s GDP and accounts for 11% of exports. With over 80,000 diverse products, this sector serves as the building block’ sector for various industries. A $220+ billion industry, this diversified segment ranks 6th globally and 3rd in Asia. The country is also a global supplier of dyestuffs and dye intermediaries, accounting for around 16% of global production. MSME firms active in this critical sector urge FM Nirmala Sitharaman to provide more fiscal incentives to enhance their working capital and counter China’s competition. Watch!
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