The global specialty chemical market was valued at $470 billion as of March 2022. The Indian specialty chemicals sector is expected to reach $40 billion by 2025.

The government's Atmanirbhar Bharat Abhiyan is focused on promoting local production and increasing India's self-reliance. India has an import dependence especially in the industrial chemical segment. In a bid to reduce the dependence on imports for chemicals and make India more self-reliant, the Ministry of Chemicals and Fertilizers has formed a seven-member joint task force under the chairmanship of science and technology secretary Srivari Chandrashekhar....