This report analyzes the Indian chemical industry taking into account domestic and international developments as well as factors which have shaped the industry over the preceding few years. PEST and Michael Porter’s Five Forces analysis have also been brought into play to facilitate better understanding of the industry’s functioning.
The industry is characterized by low product differentiation, high exit costs and a focus on maximum capacity utilization. This, in turn, has intensified competition among players.
The Indian government is undertaking several policy initiatives, such as fiscal incentives to R&D units in the knowledge chemical segment, to encourage the R&D and export focus of the industry.
The industry will have to overcome challenges in the form of still high taxes, high cost of finance and an unfavorable import duty structure. Again, high costs of raw materials, utilities and capital have further escalated manufacturing costs. Moreover, as a signatory to the evolving global trade regime, it has become mandatory for the Indian chemical industry to develop patent laws in accordance with global practices.
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