Building Resilience In MSMEs To Strengthen The Indian Chemical Industry: ICRA
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ICRA Research Report
Indian chemical and plastic industry are major contributor to gross domestic product and employ close to six million people.
While the domestic chemical sector is estimated to be ~ $178 billion, the plastic sector is ~Rs 2.25 crore.
While there are large players in the chemical sector, the micro, small and medium enterprise segment is estimated to account for ~25- 30% of the sector and plays a crucial role in the domestic chemical manufacturing and employment generation.
Further, the MSME sector accounts for 85-90% of the polymer processing segment of plastic industry.
While the MSMEs are concentrated towards segments where scale is not critical and research and development requirement is low, they also have presence in the niche specialty chemical segments.
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