BUSINESS

The Indian Chemical Industry at a Different Glance

The Indian Chemical Industry has been receiving important investment intentions in last two decades. It’s a quite an achievement for the Indian industry who had struggled a lot to catch the market dynamics since independence. During the years, the sector has grown from a small scale sector to multi-dimensional sector. However, it has still many aspects that hinder the growth of the industry. Some of the factors that affect the growth in the global market are:

a) High prices of basic feed stock
b) SSI reservation/Fragmented nature of the industry
c) Low R&D Levels
d) Low level of common infrastructure
e) Low level of ICT infrastructure
f) Low level of brand developments
g) Environmental regulations

Chemical Trading in India
To become a Chemical Importer, Chemical Exporter, Chemical Marketing Agent, Petrochemicals Supplier, Chemicals Supplier or Petrochemical Trading Company, it is quite significant to have thorough knowledge about the foreign trading norms which are prevailing in the country. To have sufficient set of information is always better, as it help you providing Quality Services For Chemicals and will also help you give hassle-free operational activities in the future, when you are importing and exporting chemicals from the country. chemical industry It’s advisable to have a good hold, on the in and out about the rules and regulations of chemical industry. In last few decades India had a poor trading scenario, although today, in the international chemical lobby, India is considered to be an unavoidable trade destination, as it has become the top notch chemical suppliers in the world.

Before two decades, chemical importers or exporters found it almost close to impossible to successfully carry forward their business activities in the country, as at that time Indian Government had imposed high duty fees and a lot of restrictions on dealing with foreign based companies. Owing to these extravagant excise duties as well as customs duties imposed by the governmental bodies, foreign companies were not able to trade with Indian exporters and importers. Nevertheless, this scenario got changed when the nation began to have a revolutionary change in the industrial domain which in return improved the global image of India. A while back the Government had reduced the custom and excise duty which opened up the Indian market for foreign big giants of the domain. The concerned regularity bodies also brought about essential changes and amendments in the new Economy Policy, which had norms that made it way easier for importers and exporters to conduct business operations with global traders. Today, India has become an ultimate destination for global trading and has commendable business relations with a number of countries.

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