A recent PwC-Assocham report suggests measures for the Indian chemical industry. The report recommends safeguard duties and incentives
New Delhi: The Centre should put in force protect duties and offer incentives to attract speciality chemicals supply chains supply chains to India, stated a PwC-Assocham document. While the domestic industry is poised for enormous growth, the sector faces several demanding situations belonging to grow commoditization, which influences profit margins, it stated.
According to the document titled ‘Indian chemical industry: Enablers to make India a growth hub for chemicals’, launched this month, the reciprocal tariffs by way of the United States have brought new complexities, effecting price systems and global competitiveness of Indian chemical exports. “These tariffs may also create a ripple impact, complicating deliver chain disruptions and increasing input costs,” it stated.
India ought to target on becoming cost-competitive in trade by optimizing supply chains and leveraging export subsidies. “Advanced technology can also assist in enhancing export performance and quality of products,” the report stated.
