Chemical Export: Their focus is on the emerging markets of the world, adopted this strategy to increase exports – chemexcil to focus on exports to emerging markets crosses usd 30 bln of chemical exports

Chemexil members have started work

On this occasion, SG Mokashi, Chairman, Chemexil informed that the work has started. The central government has indicated this in this year’s budget. Green technology is one of the priority areas in the Union Budget. Work is also going on in green fuel, green energy etc. Along with this, work has also started in bio-based specialty chemicals and renewable chemicals. At present, with the dwindling fossil fuels and increasing greenhouse gas emissions across the world, biomaterials have become the need of the hour. He pointed out that in view of the increasing demand and protection of the environment, the concept of renewable chemicals called Green Chemicals is becoming increasingly popular. The concept is gaining market share in the food processing, pharmaceuticals, textile, construction and coating sectors. Chemexil members are also working in these directions.

Last year chemical export was $ 30.31 billion

Chemexil has achieved a chemical exports figure of $30.31 billion during the financial year 2022-23. Mokashi says Chemexil will focus on exports to emerging markets. Also, Renewable Chemicals will make its mark as a producer of bio-based specialty chemicals and renewable chemicals. Outstanding exporters of basic chemicals, dyes and dye intermediates, cosmetics, castor oil and specialty chemicals etc. were felicitated during the 47th Export Awards ceremony.

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Foreign trade policy has been released only last month

The Union Ministry of Commerce and Industry had released the country’s new Foreign Trade Policy 2023 on March 31 itself. The new foreign trade policy has been considered very progressive. It is also left open for modification to meet the needs of the industry. Government believes that India has emerged as a reputed and reliable manufacturer and an international supplier in the field of Basic Chemicals, Dyes and Dye Intermediates, Cosmetics, Agrochemicals, Castor Oil, Chemicals and Petrochemicals. The chemical and petrochemical sector here has the potential to turn into a global manufacturing hub.