The economic slowdown has no doubt impacted the growth of the overall Indian chemical industry in the short term. There were major concerns of dumping of several products by countries with overcapacities like China. Indian chemicals industry in general and the specialty chemicals segment in particular, have been no different.
The specialty chemicals industry is driven by a wide range of end-use industries. The current economic slowdown has provided an opportunity to specialty chemical companies in India to review their strategic direction and strengthen capabilities required to cater to the unique requirements of the domestic market.
Revival of domestic demand and competitiveness as a global supply base would enable India to establish itself as an emerging specialty chemicals hub.
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Fibre2fashion News Desk - India
marketing@alchempro.com
