Bengaluru, Aug. 3 -- India's chemical industry is one of the most diverse in the world, encompassing over 80,000 products and employing more than 2 million people. The country ranks as the sixth-largest global chemical producer and holds the third position in Asia, contributing ~7 percent to the nation's GDP. Valued at around $220 billion, the sector is projected to grow to $300 billion by 2030 and reach $1 trillion by 2040.

On the global stage, India stands as the fourth-largest agrochemical producer, following the United States, Japan, and China. The country is responsible for about 16-18 percent of the world's dyestuff and dye intermediate output. With a ~15 percent share in the global colourants market, India has established itself a...