: Mumbai, February 7, 2025

CHEMEXCIL (Basic Chemicals, Cosmetics & Dyes Export Promotion Council), established by the Union Ministry of Commerce and Industry, will host its prestigious Export Awards Ceremony in Mumbai, tomorrow (February 8, 2025). Union Minister of State for Health and Family Welfare and Chemicals and Fertilizers Smt. Anupriya Patel, along with Minister of Industries, Government of Maharashtra Shri Uday Samant will attend the function as the Chief Guest and Guest of Honour respectively,

The size of Indian Chemical industry is approx. USD 220 billion in 2022 & is projected to reach USD 300 billion in 2025 and US$ 1 trillion by 2040. It is an integral component of Indian economy, contributing around 7% of India’s GDP. Indian chemicals contribute 2.8 to 3% of total global chemical industry. The Chemical industry in India is highly diversified, covering more than 80,000 commercial products. The industry employs more than               2 million people, both directly and indirectly.

Speaking about the awards ceremony, Union MoS Smt. Anupriya Patel appreciated CHEMEXCIL for organizing its Export Awards to felicitate outstanding exporters in basic chemicals, dyes and dye intermediates, cosmetics and toiletries, castor oil, and specialty chemicals. Smt. Patel said, India’s chemical sector has been a crucial pillar of industrial development. “As we move towards achieving new milestones in trade and sustainability, I encourage the chemical industry to embrace cutting edge technologies, sustainable practices, and value-added manufacturing. The Government of India remains committed to fostering a business-friendly environment, providing policy support, and facilitating ease of doing business to help our exporters thrive”, also stated the Union MoS Smt. Anupriya Patel.

About CHEMEXCIL

CHEMEXCIL is set by Department of Commerce, Ministry of Commerce & Industry, Government of India, to promote the export of chemical products. The Council actively engages with the government to formulate export oriented policies that support and enhance India’s chemical export. The Council is focusing on emerging markets and promoting "Green Chemicals" and bio-based specialty chemicals to align with global sustainability trends. CHEMEXCIL is poised to cross USD 30 billion in exports for 2024-25. From April to December 2024, exports have already reached USD 21.20 billion, as stated in GoI’s NIRYAT Portal.

Shri Abhay Udeshi, Chairman of CHEMEXCIL stated that the Union Budget 2025-26 has provided substantial support to the chemical sector. It includes:

• Reductions in import duties on essential raw materials such as phosphoric acid, boric acid, sorbitol, etc..
• Comprehensive support for Micro, Small, and Medium Enterprises (MSMEs).

According to CHEMEXCIL, key budget initiatives for the sector include:

• Enhanced Credit Guarantee for MSMEs with term loans up to Rs. 20 crore.
• Credit Cards for Micro Enterprises with a limit of Rs. 5 lakh for working capital.
• New Schemes for First-Time Women Entrepreneurs from Scheduled Castes and Tribes.
• National Manufacturing Mission to support industries of all sizes.
• A Rs. 25,000-crore Maritime Development Fund to streamline exports.
• An Export Promotion Mission aimed at addressing export challenges.

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