Securing competitiveness in India's chemical industry.

The Indian chemical industry has been a global leader in demand growth and shareholder wealth creation, but it has recently faced challenges due to global headwinds. Falling margins, stalling global demand, overcapacity in key export markets, and commodity price volatility have all contributed to the declining competitiveness of Indian chemical companies. To enhance their future prospects, these companies can focus on building functional excellence, internationalization, accelerating innovation, sustainability, and deepening their talent pool. By adopting these strategies, the Indian chemical industry aims to shape the future of chemical companies and potentially achieve a trillion-dollar chemicals market by 2040. [Extracted from the article]