Chemical exports have hit $ 29.3 billion in 2021-22 due to healthy performance in areas such as agrochemicals, dyes and specialty chemicals, the trade ministry said on Wednesday.
India is the sixth largest producer of chemicals in the world, third in Asia and 14th in exports.
“Today, India leads in the production of dyes and contributes 16-18 per cent to the world’s exports of dyes. Indian dyes are exported to more than 90 countries,” the ministry said in a statement.
The main export destinations are the US, China, Turkey, Russia and Northeast Asian countries (China, Hong Kong, Japan, Korea RP, Taiwan, Macao, Mongolia), he added.
“This export growth has been achieved despite unprecedented logistical challenges such as high transportation rates, shortage of containers, etc. The increase in exports of chemical products has benefited small and medium exporters from Gujarat, Maharashtra, Karnataka, Tamil Nadu and Andhra Pradesh, “he noted.
Over the years, the industry has modernized through new molecules, innovations in technology, product profiles, and a focus on quality, he said.