Is the Chemistry still strong? A perspective on the Indian chemicals sector
India’s manufacturing sector has for long lingered under the shadows of the country’s services sector which has seen an unprecedented growth over the recent years. However, India is now vying for a place in the sun as a manufacturing and sourcing hub. And it can turn out to be a major advantage, given the regulatory restrictions on setting up manufacturing in advanced markets and slowdown in the manufacturing sector in China due to increasingly stringent environmental regulations. One of the key industries contributing to the manufacturing sector growth is the chemical industry comprising of commodity and specialty chemicals serving many end user industries including pharmaceuticals, agriculture, industrial, Flavors & Fragrances, textiles, cosmetics, water treatment, and more.