Summary:

CHEMEXCIL, under the Ministry of Commerce, aims to increase exports of basic chemicals, cosmetics, and dyes to South America, which currently generate around US$ 1 billion annually. Director General Raghuveer Kini announced a US$ 31 billion export target for 2024-25, driven by strong demand in markets such as Brazil, the United States, Japan, and Saudi Arabia. Exports rose by 4.57% in the first half of the fiscal year, totaling US$ 14.1 billion.

To prepare exporters for upcoming challenges, CHEMEXCIL is hosting seminars on the EU’s impending carbon tax, effective January 1, 2026, which will impact seven high-carbon sectors, including chemicals. Director General Raghuveer Kini highlighted the global demand for Indian chemicals, valued for their quality and compliance. However, he also noted trade obstacles such as port infrastructure limitations and rupee-ruble payment issues. To address these, he recommended improving road networks and increasing the number of authorized banks for India-Russia transactions.

Source: IBEF 

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