As per FICCI, the chemical industry is expected to grow at 9% per annum to reach USD 304 bn by FY2025, from USD 163 bn in FY2018. The growth is likely to driven by robust domestic demand owing to the expected improvement in GDP growth and low per capita consumption of chemical in India. In addition, the government’s ambition of becoming a USD 5 trillion economy coupled with other major announcements like Smart Cities, Make in India is likely to boost the Chemical industry’s revenue growth significantly. Moreover, the consolidation in the Chinese chemical industry is likely to reduce the global supply, which would not only increase the demand for Indian chemicals but also expected to increase the prices and thereby driving revenue growth. A reduction in supply from China would also be expected to increase both export potential and import substitution for Indian companies.

Keeping the above trends in mind, VSP Pharma Chem has also developed DOMESTIC ( INDIA - LOCAL ) SOURCES to Leverage the Competitiveness of the Indian Chemical Industry as a substitution to the Global Chemical Market.