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News
India Amends Quality Control Order on Polyester Continuous Filament Fully Drawn Yarn
July 25, 2024
On 18 July 2024, the Department of Chemicals and Petrochemicals (DCPC) of India published the Polyester Continuous Filament Fully Drawn Yarn (Quality Control) Amendment Order, 2024 in the Gazette of India. This Quality Control Order (QCO) came into force immediately on its publication in the Gazette.
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Budget 2024 -25: Industry expects PLI, lower GST & R&D support
July 23, 2024
Implementation of a Production -Linked Incentive (PLI) scheme in chemical manufacturing: This will undoubtedly enhance the capacity of Indian manufacturers, ensure self-reliance in critical input products and increase the cost competitiveness. The Indian chemical industry has started seeing green shoots of recovery after reeling for over 12 months. Schemes such as PLI will provide a much - needed boost to local manufacturing and help the sector get back on track at a fast pace. Local manufacturers ensure our competitiveness in the global markets and renewed government focus will be key for their growth.
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Green chemistry to global competitiveness: Chemical sector’s budget expectations
July 22, 2024
India’s chemical industry is a powerhouse that touches nearly every aspect of modern life. Contributing 7% to the country ’s GDP, this diverse sector is the sixth largest globally. As the chemical manufacturing sector continues to expand, it seeks strategic support from the upcoming budget to fuel the next phase of industrial growth. As budget discussions unfold, the chemical industry – spanning bulk and specialty chemicals, agrochemicals, Pharmaceuticals and more – anticipates policies and investments that could shape its trajectory in the coming years, potentially redefining not just India’s industrial landscape, but its role in the global chemical market too.
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Union Minister for Chemicals & Fertilizers, Shri Jagat Prakash Nadda and Minister of state Ms. Anupriya Patel launch the 13th edition of the India Chem with the theme "Advantage Bharat: Indian Chemicals and Petrochemicals Paving the Future
July 20, 2024
The Union Minister for Chemicals & Fertilizers, Shri Jagat Prakash Nadda launched the 13th edition of the India Chem with the theme "Advantage Bharat: Indian Chemicals and Petrochemicals Paving the Future", here today in the presence of Ms. Anupriya Patel, Minister of State for Chemicals & Fertilizers. Shri Nadda also launched the brochure for the 13th edition of IndiaChem. Ms Nivedita Shukla Verma, Secretary, Department of Chemicals and Petrochemicals was also present on the occasion along with senior officials from the Ministry and industry representatives from the chemical and petrochemical sector.
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ACC Statement on White House ’s Federal Action Report on Plastic
July 19, 2024
The White House and America ’s plastic makers share the same goal: preventing plastic pollution by creating systems that enable plastic resources to be used again and again. These words are backed by the billions of dollars plastic makers have invested to scale up a circular economy to help keep plastics from entering the environment, conserve natural resources through greater reuse and recycling, and further shrink the environmental footprint of manufacturing.
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NextGen Summit 2024: Industry brainstorms India's strategic plan for global competitiveness
July 16, 2024
Thought leaders and other stakeholders of Indian chemical industry gathered at the 4thEdition of NextGen Chemical and Petrochemical Summit 2024 organized by the Indian Chemical News in Mumbai on July 11 -12, 2024. The two day event was themed - "Transforming India into a Global Manufacturing Hub. ” .
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Chemical sector on the cusp of a turnaround with improving pricing environment, says Ambit Asset Managemen
July 10, 2024
Ambit Asset Management highlights that several companies are currently trading at attractive valuations, with some of its portfolio stocks.
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The government of India publishes revised Public Procurement Make in India Order 2017
May 28, 2024
On May 20, 2024, the Government of India has published a notification revising the Public Procurement (Preference to Make in India) Order 2017. This revision is aimed at encouraging the “Make in India” initiative by promoting the manufacture and production of goods, services and works in India, thereby increasing income and employment.
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Chemical sector to grow to $300 Bil. by 2025;
May 21, 2024
India produces a wide range of chemicals, contributing 7% to the nation’s GDP. The industry encompasses over 80,000 commercial products, including bulk chemicals, specialty chemicals, petrochemicals, agrochemicals, fertilizers, and polymers. Notably, India is a leading supplier of dyes, accounting for approximately 16% of global production. Valued at $220 billion in 2022, the Indian chemical industry is projected to grow to $300 billion by 2025 and reach $1 trillion by 2040.
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Specialty chemicals, CRAMs to drive growth, lower crude to drive EBITDA: ICICI Direct
April 16, 2024
ICICI Direct expects a mixed picture for the I-direct Chemicals sector in Q4FY23E as a result of divergent demand conditions across end user sectors. While agrochem, pharma and some specific specialty chemicals players are likely to maintain their growth tempo, we expect a slowdown among packaging, pigments, dyes and polymer players..
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India’s DGFT Notification Sparks Debate: Exemptions for QCOs for chemicals cosmetics and dyes in Export Sector
April 15,2024
India ’s Directorate General of Foreign Trade (DGFT) published notification 69/2023. The notification explains the provisions for the import of inputs that are subjected to mandatory Quality Control Orders (QCOs) by advance authorization (AA) holders and registered export - oriented units (EOUs). The DGFT has announced exemptions for duty - free imports of goods for final exports, including those in special economic zones (SEZs) and EOUs. However, goods not used for export production will be destroyed by customs officials.
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Bio Based Chemicals – A Way Forward for Sustainability
March 12, 2024
In today ’s industry, sustainability and circularity are crucial for growth. The outcomes of the recent COP27 Summit emphasize the urgency of prioritizing sustainability. Organizations must leverage innovation to offer sustainable products/services and reduce their carbon footprint, combating environmental threats like global warming and pollution.
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Prime Minister Lays foundation Stone of Petrochemicals complex of Petronet LNG at Dahej, Gujarat
March 12, 2024
The Prime Minister Shri Narendra Modi laid the foundation stone of petrochemicals complex of petronet LNG at Dahej and dedicated to the nation 50 Pradhan Mantri Bhartiya Janaushadhi Kendras from Ahmedabad, Gujarat today .
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Year End Review: Department of Chemicals and Petrochemicals
December 27, 2023
The Department of Chemical and Petrochemical gave special emphasis to reduce reliance on imports, enhance infrastructure, and improve the business environment .
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