360° Coverage : Africa: Chemical boom for Indian exports

11 Updates
Africa: Chemical boom for Indian exports
Photo Credit: SAJJAD HUSSAIN, Getty Images

Africa: Chemical boom for Indian exports

Jul 21 2013, 4:52am CDT | by IANS

Lagos, July 21 (IANS) Africa is presenting a busy market for India's chemical exports as figures for Nigeria alone indicate considerable growth. Exports of chemical items from India to Nigeria alone have increased to about 5.6 percent from 2012 to 2013, according to the Chemical Export Promotion Council of India (ChemExcil).

Lagos, July 21 — Africa is presenting a busy market for India's chemical exports as figures for Nigeria alone indicate considerable growth. Exports of chemical items from India to Nigeria alone have...

Filed under: news

YouTube Videos

 
 
 

1 year ago

Africa: Chemical boom for Indian exports

Jul 21 2013, 4:52am CDT | by IANS

Lagos, July 21 (IANS) Africa is presenting a busy market for India's chemical exports as figures for Nigeria alone indicate considerable growth. Exports of chemical items from India to Nigeria alone have increased to about 5.6 percent from 2012 to 2013, according to the Chemical Export Promotion Council of India (ChemExcil).

Lagos, July 21 — Africa is presenting a busy market for India's chemical exports as figures for Nigeria alone indicate considerable growth. Exports of chemical items from India to Nigeria alone have increased to about 5.6 percent from 2012 to 2013, according to the Chemical Export Promotion Council of India (ChemExcil).

In addition, total volume of exports to Nigeria this year amounted to $90.3 million as against $85.5 million last year, ChemExcil executive director Suhas Bhardi said at an exhibition that opened here with over 80 companies in attendance.

"The purpose of this Exhibition is to strengthen/expand existing business, promote india's chemical exports and to create a positive brand image of Indian products. This would also result in many more joint ventures and technology transfer," Bhardi said.

The Indian Chemical and Cosmetics Exhibition has been organised by ChemExcil in collaboration with the Pesticides Manufacturers and Formulators Association of India (PMFAI) and the Indian High Commission in Lagos.

The sector, which consists mainly of petrochemicals, accounts for over 70 percent of the total chemical market in Nigeria. "I am happy to note that the upstream petrochemical sector is well established as Nigeria is the highest oil-producer in Africa," Bhardi said.

PMFAI president Pradip Dave said the African region offered most potential for improvement in the productivity of crops and the African governments have therefore given priority to development of agriculture in the region.

Dave said that there was a good market for agrochemicals in Nigeria, adding that "it is estimated that the private sector agrochemical companies supply about 70 percent of the total CPP demand of approximately $120 million."

"Most of the African countries are now concentrating on development of irrigation projects and, with a modern irrigation system, by optimising and conserving water resources and also introducing drought resistance varieties. The drought resistance and high yielding varieties will definitely boost the agricultural production in the African region which will also help in boosting agricultural exports from Africa," he said.

ChemExcil's studies have shown that Nigerian companies consume in excess of $3.58 billion worth of chemicals per annum but produce just $380 million, an indication that the country is a potential market for the export of chemicals.

"The base chemical sectors, which consists mainly of petrochemicals, accounts for over 70 per cent of the total chemicals market in Nigeria. The upstream petrochemicals sector is well established as Nigeria is the highest oil producer in Africa," the council said on its website.

"Limited development of the downstream sector constrains growth of not only the base chemicals sector but also the total chemicals industry in Nigeria. In the speciality chemicals sector local manufacturing is focussed on paints, coatings and adhesives, using imported raw materials," it added.

For the remaining speciality chemical products, such as preservatives, water treatment and wood and textile treatment chemicals, local manufacture is limited. "The high operating costs as well as a lack of access to raw materials restrains the development of further manufacturing for a wider range of speciality chemicals," it said.

ChemExcil said, "Most regional and global speciality chemicals manufacturers supply raw materials and inputs to the local manufactures through distributors and also use the distributors to import fully manufactured speciality chemicals."

It has also identified a major market in essential oils flavours and fragrance/cosmetics/soaps and toiletries industry on the African continent.

"Africa's middle class has tripled in size in the last 30 years and is driving the continent's demand for cosmetics," it said.

"In Nigeria, cosmetics companies are racing for market share. While multinational brands dominate the market in Kenya and Uganda, and lack of capacity for local manufacturing remains an issue, local entrepreneurs are outsourcing manufacture and are using unique sales strategies."

After the Lagos exhibition, the ChemExil would move on to Addis-Ababa, Ethiopia, for a Buyer-Seller Meet and then to Dar es Salaam, Tanzania, July 23.

(Francis Kokutse can be contacted at fkokutse@hotmail.com)

IANS

Source: IANS

 
Update
11

4 days ago

WTO rules for U.S. in India trade dispute

Oct 14 2014 7:36pm CDT | Source: USATODAY

A World Trade Organization ruling Tuesday could help U.S. farmers increase exports to Indi ...
Source: USATODAY   Full article at: USATODAY
 

 
Update
10

4 days ago

Neel Mukherjee loses Man Booker Prize to Richard Flanagan

Oct 14 2014 5:15pm CDT | Source: Business Standard

India-born British author Neel Mukherjee lost out on the 2014 Booker Prize to Australian novelist Richard Flanagan, who won the prestigious literary prize for 'The Narrow Road to the Deep North' that tell ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
9

4 days ago

IndiGo could place big aircraft order by early 2015, say sources

Oct 14 2014 2:05pm CDT | Source: Business Standard

Low-cost carrier IndiGo is close to placing a large order worth billions of dollars for a variety of aircraft and could reach a decision as early as 2015, according to industry sources.IndiGo, India's ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
8

4 days ago

Pak carpet export drops 50pc, India up by 9pc due to incentives

Oct 14 2014 2:00pm CDT | Source: The Nation - Pakistan

LAHORE - The Trade Development Authority of Pakistan Chief Executive, S.M. Muneer, has said that Pakistan’s carpet export has dropped by 50% for the last five years while the export of rugs from India has shown growth of over 9 per cent in early 2014-15 due to government support to export-oriented industry. “The government ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
7

4 days ago

40 years ago...and now: Per capita income presents a grim picture

Oct 14 2014 1:46pm CDT | Source: Business Standard

According to this series, based on 1990 Geary-Khamis dollar PPP, India's per capita GDP ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
5

4 days ago

A K Bhattacharya: Living on hope

Oct 14 2014 11:18am CDT | Source: Business Standard

Four and a half months after the formation of the Narendra Modi-led government at the Centre, international investors have now begun to ask questions on how realistic the expectations of a positive change in the business climate in India are. ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
4

4 days ago

India loses WTO dispute over bird flu curbs on U.S. poultry

Oct 14 2014 10:31am CDT | Source: Reuters India

GENEVA (Reuters) - India broke World Trade Organization rules by blocking U.S. poultry imports because of unsubstantiated bird flu fears, a WTO dispute pa ...
Source: Reuters India   Full article at: Reuters India
 

 
Update
3

4 days ago

India Asks Uber for Tax Clarification

Oct 14 2014 9:54am CDT | Source: WSJ.com: Asia Home

Ride-sharing service Uber Technologies Inc., whose payment system has drawn criticism from India’s central bank, is now facing questions from the ...
Source: WSJ.com: Asia Home   Full article at: WSJ.com: Asia Home
 

 
Update
2

4 days ago

UK promises £6.5 million to develop cultural collaboration

Oct 14 2014 9:39am CDT | Source: Business Standard

There are over 800 museums in India with 76 of them privatel ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
1

4 days ago

Sebi ban: DLF will have to sell assets to service debt

Oct 14 2014 9:18am CDT | Source: Bridgeville Public Library

Bankers and analysts say the only option left for DLF, India's most indebted property developer, is to divest assets, even half-complete projects, ...
Source: Bridgeville Public Library   Full article at: Bridgeville Public Library
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

iPhone app to ensure eye health
Washington, Oct 19 (IANS) Researchers have successfully used an iPhone app for imaging the inside of the eye of immobile and paediatric patients.
 
 
How the birth season can trigger mood disorders
London, Oct 19 (IANS) The risk of developing mood disorders is impacted by the season in which you are born in, a research showed.
 
 
Reheat your pasta to avoid fat
London, Oct 19 (IANS) Love pasta but hate to add those extra kilos around your waist? Cool it down and reheat it again.
 
 
Ebola: Global fight to be coordinated with West African national plans
Accra, Oct 19 (IANS/WAM) The UN and the governments of the countries at the forefront of efforts to turn back the unfolding Ebola virus disease outbreak in West Africa have agreed to ensure that the UN system adopts a coordinated approach to global support being mobilised for national-level crisis response plans.
 
 
 

Latest from the Network

Bush shoe-tossing painting hits record at Doha auction
Doha, Oct 15 (IANS/EFE) A controversial painting by Iranian artist Mahmud Obaidi, depicting an Iraqi journalist throwing shoe in 2008 at then US president George W. Bush, was sold for $62,500 at a Sotheby's auction in...
Read more on Celebrity Balla
 
US offers $45 mn bounty for eight terror leaders
Washington, Oct 15 (IANS) The US said Tuesday it is offering rewards totalling up to 45 million dollars for information on eight key leaders of the Al Qaeda in the Arabian Peninsula (AQAP) terrorist organisation. The...
Read more on Politics Balla
 
UNSC extends peacekeeping mission's term in Abyei
United Nations, Oct 15 (IANS) The UN Security Council (UNSC) has renewed the mandate of the UN peacekeeping mission in the Abyei border region between Sudan and South Sudan. In an unanimously adopted resolution, the...
Read more on Politics Balla
 
Ebola cases in West Africa could reach 10,000 per week: WHO
Geneva, Oct 15 (IANS) The World Health Organisation (WHO) has warned that the Ebola epidemic in West Africa could reach 5,000 to 10,000 cases per week by the first week of December. "Quite frankly, ladies and...
Read more on Business Balla
 
Turkey, Singapore sign strategic partnership agreement
Ankara, Oct 15 (IANS) Turkey and Singapore have signed a strategic partnership agreement to boost economic, political and cultural cooperation, as well as security collaboration, during the official visit of...
Read more on Politics Balla
 
Christina Aguilera is returning to 'The Voice' USA
Christina Aguilera will return to 'The Voice' USA next year. The 'Your Body' hitmaker, who previously shared a rotating spot on the judging panel with Shakira, has been replaced by Gwen Stefani this season as she is...
Read more on Celebrity Balla
 
Kesha's music producer hits back
Kesha is being countersued by her record company boss, Dr. Luke. The 41-year-old music producer, who runs Kemosabe Records, claims the 27-year-old 'Tik Tok' singer is a liar and is trying to extort him after she accused...
Read more on Celebrity Balla
 
Jason Derulo won't get back together with Jordin Sparks
Jason Derulo insists his split from Jordin Sparks is permanent. The 'Talk Dirty' hitmaker, who recently ended his relationship with the 'No Air' singer after three years of dating, has ruled out getting back together...
Read more on Celebrity Balla
 
Josh Groban feels 'very lucky' to be dating Kat Dennings
Josh Groban feels ''very lucky'' to be dating Kat Dennings. The 'Brave' hitmaker was very nervous before singing in front of the '2 Broke Girls' actress for the first time at the Carousel of Hope Ball in Beverly Hills,...
Read more on Celebrity Balla
 
Australian Richard Flanagan wins 2014 Man Booker prize
London, Oct 15 (IANS) The first Man Booker prize to allow American nominees was Tuesday night won by an Australian, with Richard Flanagan triumphing for a novel of love and war that tells the harrowing stories of...
Read more on Celebrity Balla