Gujarat Chemical Association (GCA) was established in 1947 by a group of visionaries who envisioned the need for an association to boost the industrial economy of India after independence. As Gujarat Chemical Association (GCA) concludes 75 brilliant years of its glorious services to the Chemical Trade & Industry of Gujarat, it is time to look forward and imagine its role for the future lying ahead, in line with the growth vision for the Chemical Industries in Gujarat. GCA’s philosophy is to promote and foster the Development of the Chemical Industry for the betterment of the society.
Globally, India is the fourth-largest producer of agrochemicals after the United States, Japan and China. India accounts for ~16% of the world production of dyestuffs and dye intermediates. Indian colorants industry has emerged as a key player with a global market share of ~15%. The country’s chemicals industry is de-licensed, except for few hazardous chemicals. India holds a strong position in exports and imports of chemicals at a global level and ranks 14th in exports and 8th in imports at global level (excluding pharmaceuticals).
The domestic chemicals sector’s small and medium enterprises are expected to showcase 18-23% revenue growth in FY22, owing to an improvement in domestic demand and higher realisation due to high prices of chemicals.India’s proximity to the Middle East, the world’s source of petrochemicals feedstock, enables it to benefit on economies of scale.
The chemical industry is going through major transformations driven by consolidation—as a result of major mergers, adaptation to increasingly demanding regulations, great volatility in prices, and increasingly complex and interconnected supply chains.
