Country’s chemical industry has tremendous scope to increase share in global trade and is expected to reach $224 billion in next financial year from $144 billion at present, a senior government official said today.
“India is an important player in the global trade of chemicals, plastics and allied products. There is tremendous scope to increase our share in the global trade. “The value of global chemical industry is estimated at $3.26 trillion, while the output of Indian chemical industry is $144 billion,” Joint Secretary, Ministry of Commerce and Industry, BS Bhalla said on the sidelines of an exhibition on chemicals here. “The global chemical industry is expected to reach $4.5 trillion, while Indian chemical industry is estimated to reach $224 billion in fiscal year 2017,” Bhalla said.