India Chemical Licensing Industry Research 2024: Market will Reach $2.34 Billion in 2029 at a CAGR of 8.74% from US$1.54 Billion in 2024 [Yahoo! Finance]
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Source: Yahoo! Finance
India's chemical licensing market will reach US$2.34 billion in 2029 at a CAGR of 8.74% from US$1.54 billion in 2024. India's chemical licensing market is anticipated to witness a huge boom because of various factors. The manufacturing sector and the growing population are the main reasons for the demand for various chemicals. Additionally, the introduction of more stringent regulations like the Chemicals Management and Safety Rules (CMSR) requires the proper licensing for the production, import, and use of chemicals. This emphasis on safety and environmental responsibility forces the companies to go through the licensing process. Besides, India's ambition of becoming a world leader in the chemical industry is based on a strong licensing system, which, in turn, builds trust and ensures responsible chemical management. For instance, the Press Information Bureau published an article in May 2023 stating that the Government has introduced many policies to develop the chemical secto
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