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The chemicals sector holds a significant position in the Indian economy, accounting for 7% of the GDP and about 14% in overall index of industrial production (IIP). India has significant presence in production of basic organic chemicals, fertilisers, pesticides, paints, dyestuffs and intermediates and fine and specialty chemicals. The chemical sector in India faces key challenges such as inadequate infrastructure facilities, high costs of basic raw materials like natural gas and crude oil, high cost of capital and need for technological modernisation of its facilities.
The key success factors for the chemicals industry in India are the use of advanced technology, strong research capabilities, backward and forward linkages and development of domestic capacity to reduce dependence on imported raw materials. It has also become imperative for the Indian chemical industry to address safety, health and environmental protection issues in an organised manner.
Our chemicals sector practice in India is part of a global network of more than 3,600 partners and client service professionals. Apart from audit and tax services, we offer a wide range of industry-focussed advisory services around critical business issues, such as operations, strategy and risk advisory, IT implementation, sustainability and mergers and acquisitions.
Leader, PwC India
Tel: +91 22 6669 1555