India has made no secret of its manufacturing ambitions. Sectors like electronics and automobiles are getting policy push and investment interest in equal measure. But there’s another industry, far more underleveraged, that could play an outsized role in India’s journey to becoming an advanced economy: chemicals.With a market worth $220 billion, the chemicals industry is one of the country’s largest. It feeds everything from agriculture to textiles, and pharmaceuticals to automobiles. Yet, despite its size and reach, India’s position in the global chemicals trade remains modest.
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