According to reports, the Chinese government decided to close down a number of chemical companies in order to further improve the ecological environment. This has led to a significant increase in the scale of Indian chemical exports.
According to reports, during the 2017-2018 tax period, the export volume of Indian chemical products increased by 31.94% to 15.91 billion U.S. dollars.
According to the report, Satish Wagh, chairman of India's basic chemicals, cosmetics and dyes export promotion committee (Chemexcil), said that the chemical industry is recovering. He said that the export growth also led to insufficient supply in the domestic market.
From the perspective of the overall growth level, the export growth of inorganic, organic chemicals and chemical fertilizers is the most prominent. In 2017-2018, the export volume of such products reached US$10.66 billion, accounting for 38.29% of the total exports (previous tax period). Only 3.48%).