Shift of specialty chemicals from China to India helps Deepak Fertilisers’ profits to jump by 415% in Q4, FY21

Deepak Fertilisers and Petrochemicals Corporation on Friday reported a 415% year-on-year jump in net proft to Rs 116 crore for the March 2021 quarter. Consolidated revenues grew by 21.8% y-o-y to Rs 1,575 crore in the quarter. Revenues from the chemical business increased by 15% to Rs 870 crore with margins going up to 27% […]

Read more

Scientists find high emissions of ozone-destroying gases, pointing to illegal manufacture and use

veeterzy-UwBrS-qRMHo-unsplash-scaled.jpg

Scientists have discovered higher-than-expected levels of ozone-destroying chlorofluorocarbon (CFC) gases in the atmosphere—strongly suggesting illegal manufacture, use and emissions, the Environmental Investigation Agency reported on Tuesday. The findings were published in Nature Communications on 18 May by a group of scientists from the Massachusetts Institute of Technology, Stanford University and the University of Bristol. Their […]

Read more

SME chemicals sector set for rebound in revenue: CRISIL SME Tracker

Small and medium enterprises (SMEs) in the domestic chemicals sector are on course for 18-23 per cent revenue growth in the current fiscal year (FY22), mainly owing to recovery in domestic demand and higher realisation due to a rise in the prices of chemicals, stated a report from CRISIL SME Tracker. Moreover, an ongoing surge in exports as importer-countries reduce […]

Read more

Rising Covid cases in India boost demand for organic foods

Farmers-Image-1Organic-2-1-scaled.jpg

When agriculture entrepreneur Sharmila Oswal learnt that her sister, best friend, and nephew were all affected by Covid, she was shaken and began thinking about what could be done to help people build up their immunity. She was convinced that unhealthy food was one of the main reasons for their vulnerability because the majority of crops in India […]

Read more

India can grab trillion dollar opportunity in chemicals and petrochem: Minister Gowda

India’s Chemicals and Fertilizer minister D V Sadananda Gowda said on Wednesday that an opportunity to attract investments worth one trillion rupees had opened up in the chemicals and petrochemicals sector following recent budgetary announcements. Speaking at the annual India Chem summit, he said at least 50%-60% of recent production linked incentives announced for 10 manufacturing sector […]

Read more

Finance Minister promises more credit for agriculture during the next fiscal in her Union Budget 2020 speech

Budget.jpg

Finance Minister Ms Nirmala Sithraman announced an agricultural credit target set to Rs 15 trillion for next fiscal in her budget speech. Rural development and Panchanyati Raj were allocated Rs 1.6 trillion by the minister. She listed 16 action points for ‘aspirational India’ in her speech. The state governments who are already implementing three model […]

Read more

India’s exports contract 1.11% in October 2019; trade deficit narrows

India’s exports contracted 1.11 per cent to $26.38 billion in October 2019 while a sharper shrinkage in imports left a trade deficit of $11.01 billion compared with $18 billion last year. Imports shrank 16.31 per cent to $37.39 billion, according to official data released by commerce and industry ministry. Meanwhile, some large export items, such […]

Read more

PM Modi calls upon farmers to cut usage of chemical fertilisers, pesticides

Prime Minister Narendra Modi made an emotional appeal to farmers to reduce use of chemical fertilisers and pesticides by 10-25% to save the soil. He invoked the sacrifices of freedom fighters and asked farmers to get blessings in saving ‘Mother Earth’ by reducing the chemicals used in agriculture. Pointing out that no one has the right to […]

Read more

Indian exports to China surge in wake of US-China trade war; agri-exports rose by 70% till Nov 2018

The tariff war between the US and China has helped India increase its exports to China.  During the June-November 2018 period, exports to the neighbouring country have increased by about 25 per cent to $8.46 billion, apex exporters body, Federation of Indian Export Organisations (FIEO) revealed. Exports to China had stood at $6.37 billion in […]

Read more