Tata Strategic report on ‘Indian Chemical Industry’ states Specialty Chemicals market in India will grow to $70billion by 2021

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The report provides an overview of the business environment in the state of Gujarat, with special emphasis on specialty chemicals. It describes salient features and key developments in the investment climate and industrial policy of the state.

Indian Chemicals Report unveiled by Gujrat Chief Minister Narendra Mody at the India Chem Gujrat Conclave today

INDIACSR News Network

GANDHINAGAR: Tata Strategic Management Group, the largest Indian-owned management consulting firm, today presented the report on Indian speciality chemicals industry, as knowledge and strategy partner for FICCI organised IndianChem Gujarat Conclave 2013.

The report is a source of knowledge and information on the current scenario of the speciality chemicals industry, along with an analysis of key sub-segments such as agrochemicals, fine chemicals, and dyes & pigments.The special feature on Gujarat illustrates the advantage it offers as the chemical industry is today the largest and fastest growing component of Gujarat’s manufacturing sector.

Today, at a domestic market size of ~USD 108 billion the industry accounts for only 3.3 % of the global chemical market. It is highly diversified with more than 80,000 chemicals and currently accounts for ~11% of India’s industrial output which makes it very crucial for the economic development of the country. The report outlines the demand-supply scenario over the next 5 years and also the key growth drivers.

Gujarat as a state contributes a major share of the country’s chemicals output: 62% of petrochemicals, 51% of chemicals and 35% of pharmaceuticals. The report by Tata Strategic Management Group also highlights the advantage that Gujarat as a state offers with its business friendly policies. The State Government has taken care to set up industrial estates on non-agricultural land after assessment of industrial viability. Such availability of product clusters ensures opportunities across the value chain and facilitates investment in the state.

Commenting on the report, Mr.Raju Bhinge, Chief Executive Officer, Tata Strategic Management Group said, “Our endeavour through this report is to highlight the significance of India’s Speciality Chemicals Industry and the demand drivers and opportunities in different segments. The domestic demand for specialty chemicals is set to increase at the pace of two times GDP growth due to increasing demand in end use industries. This growth isdriven by increased disposable income, youthful population, and urbanization”.

Mr. Manish Panchal, Practice Head – Chemical & Energy, Tata Strategic Management Group, said , “The report provides insights on the success story of Indian Fine Chemicals (API) that can be replicated by  fast growing specialitychemicals segments like home care, personal care, packaging and construction chemicals. India can leverage its low cost manufacturing position, availability of skilled manpower and ability to comply to global quality norms”.

On this occasion,TATA Strategic Management Group also released a white paper on ‘Key Infrastructure gaps and challenges in Dahej PCPIR’.  The white paper highlights the current status ofutilities, ports, roadways and railways and social infrastructure. The paper concludes with suggestions on how to bridge the gaps and make Dahej PCPIR succeed.

Commenting on the launch of the report, Mr.Prabsharan Singh –Director Chemicals Industry, FICCI said, “The report by Tata Strategic Management Group (TSMG) is a source of information and statistics that helps us to see the sector in a new light. It entails an overview of the business environment in the state of Gujarat, with special emphasis on specialty chemicals. It describes salient features and key developments in the investing climate and industrial policy of the state. We are sure it will be beneficial for the industry, at large”

Tata Strategic Management Group is the largest Indian owned Management Consulting firm. It addresses top of the mind issues of Business Leaders in the areas of growth, new market entry, organization effectiveness and overall performance improvement. Over the past few years, Tata Strategic has partnered with FICCI, CII, Chemexcil and other industry associations to publish numerous industry reports. The companyhas also worked with the Chemical Task Force – Govt. of India to help develop India Chemical Vision 2020 and formulate the National Chemical Policy.

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