The Indian specialty chemical industry contributes towards a significant part of the country’s gross domestic product (GDP) and has grown at an impressive rate in the recent past. Specialty chemicals are customised for a variety of applications such as pesticides, dyes, fertilisers, pigments and so on. Certain industries such as automotives, adhesives and paints serve as important growth drivers for the specialty chemical industry. A key requirement for the improvement of the specialty chemical industry is more investment into research and development (R&D;) activities that lead to development of new and more quality products. However, going forward, the specialty chemical sector needs to develop more localised products, while keeping an eye on pricing, so as to enable margins to grow in future. Hide this