The Department for Business and Trade (DBT) is delighted to invite businesses from across the UK to submit an expression of interest to participate in a trade mission to India. The programme is designed for businesses who operate in the chemical sectors, as well as associated supply chains.
Dates: 26 February – 1 March 2024
Location: Mumbai and Gujarat
Cost: Delegation members will be required to pay for their own travel, subsistence and hotel costs. There is a nominal £100 participation fee.
India is the 5th largest economy in the world. The Indian chemicals market ranks 6th largest in the world by sales with 3-3.5% market share of the global chemicals market. The Indian chemicals market in growing at 9% CAGR and is expected to garner 5-5.5% market share of the global chemicals market by 2027.
Rising disposal income, growing domestic consumption, changing consumer preferences in-line with a younger demographic and shifting global supply chains due to strategic geo-political considerations is making India an attractive market for chemicals. McKinsey estimate India to emerge as US$1tn chemicals market by 2040.
India is running a trade deficit of US$10bn (2021) in the sector with chemical imports of US$33bn making it the 6th largest importer of chemicals in the world.
UK chemicals companies – especially those in speciality and performance chemicals, offering green chemistry solutions, developing innovative technologies across a wide spectrum of the chemical sector – will find the Indian market attractive. Indian chemical companies have also invested in UK manufacturing sites so the mission could help to enhance bilateral trade and investment opportunities in the sector.
About the Programme
The precise programme is in development, and we will respond to participant interest as far as possible. It is expected the programme will include:
The mission will be designed to put your business in the best possible position to make the most of the visit, providing a unique opportunity to explore your business potential within this market.
Places are limited, so please register your interest via the link below by 1 December 2023. We will contact you to confirm your place as soon as possible after your registration. Register your interest here.