Chemical Industry in India Is Experiencing a Rapid Growth

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Chemical Industry is a major sector in India’s economy. India Brand Equity Foundation introduces that “among the most diversified industrial sectors, chemicals cover an array of more than 70,000 commercial products.” India is a large producer country of chemicals which ranks sixth in the world and third in Asia. The relative experts had expected that the national chemical production of India will increase to $226 billion by 2020. As a powerful driven engine of the economy, Indian government provides sufficient support to the chemical industry from investment to license applying.

8 - Chemical Industry in India Is Experiencing a Rapid Growth

The abundant and stable generation of chemicals provides more possibilities for India to accelerate the pace of chemical exports. And 34% of India’s export earnings come from its chemical industry. The United States and China are the two major destinations or chemical exports from India, which brings a great number of business opportunities to the world.  Chemical companies could not only utilize the traditional ways, but also take advantages of e-commerce to broaden business of import and export. E-commerce in India grows rapidly in recent years. According to ASSOCHAM-Forrester study paper, “Indian e-commerce is growing at an annual rate of 51%, the highest in the world, and is expected to jump from $30 billion in 2016 to $120 billion in 2020.” Figure 1 shows the development of Indian e-commerce. Various e-commerce methods are developing in India now, which include domestic and cross-border, B2B and B2C, marketplace and inventory based, dingle brand and multi brand. Both chemical industry and e-commerce grow fast in India, combining the two industries could achieve a common growth because abundant policy support is provided and business opportunities could be found.

9 - Chemical Industry in India Is Experiencing a Rapid Growth

(Figure 1: E-commerce Industry in India)

As we mentioned above, cross-border B2B e-commerce could be an effective tool of chemical industry. Traditionally, suppliers always find business partners through their existing customer network or participate in some industry conferences to introduce their brand and product to the potential customers. While the e-commerce provides a more efficient way to connect your brand with your products. Suppliers could open an online shop on the e-commerce platforms, or build your own website to showcase the products. More global customers may get to know the products as long as the suppliers promote them in a proper way.

Companies in the chemical industry could find business opportunities in India. Registering on a professional B2B e-commerce platform is a great choice. JumoreGlobal is such a platform. JumoreChemical, which aims to provide B2B e-commerce services for chemical companies, is the sub platform of JumoreGlobal. Business specialists will help you open an online shop on the platform and assist you to find business opportunities in India if you are interested in Indian chemical market and willing to cooperate with companies there. Besides, JumoreGlobal will provide chemical industry information for you at a regular frequency. In order to fit your requirement, the platform is always ready to provide you all-around services to expand your chemical business.

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