Mumbai: Specialty chemicals will be the next great export pillar for India with several domestic players expa-nding their operations to reduce the country’s dep-endence on China.
This has resulted in a flurry of initial public offerings in the primary market since last year to fund the capital expansion by specialty chemicals manufacturers.
Chemcon Speciality Ch-emicals, Rossari Biotech, Windlas Biotech, India Pesticides, Laxmi Orga-nic Industries, Anupam Rasayan are the new listings after the pandemic break out. Another industry major Ami Organics too is set to tap the primary market.
The specialty chemicals industry in India is being driven by both domestic consumption and exports. India’s specialty chemical companies are gaining favour with global MNCs because of the geopolitical shift after the outbreak of Covid-19 as the world looks to reduce its dependence on China.
Currently China accou-nts for 17 per cent of the world’s specialty chemicals exports, while India accounts for 1-2 per cent.