Press Releases
The Embassy of India in Baku, in association with Chemexcil, organized an event “India-Azerbaijan: Exploring Trade Opportunities in Dyes, Pigment, Inorganic Chemicals and Agrochemicals” in hybrid mode on 24 February 2023 with the participation of the representatives of Azerbaijani and Indian companies in order to explore the potential for business cooperation in this sector. About 20 Azerbaijani companies gathered in JW Marriott Absheron Baku to attend the event in physical mode, while their Indian counterparts joining the event in virtual mode.
CHEMEXCIL- Basic Chemicals, Cosmetics & Dyes Export Promotion Council was set up by the Ministry of Commerce & Industry Government of India in 1963 with the objective of promoting exports of the Dyes and Dye Intermediates, Basic Inorganic & Organic Chemicals, including Agrochemicals, Cosmetics, Soaps, Toiletries & Essential Oils, Specialty Chemicals, Lubricants and Castor oil from India to various countries abroad.
In his opening remarks, Mr. S.G. Bharadi, Executive Director, Chemexcil noted that the size of Indian Chemical industry was USD 163 billion and was projected to reach USD 304 billion in 2025. It is an integral component of Indian economy, contributing around 6.7% of India’s GDP, he added.
Speaking at the event, Vinay Kumar, Chargé d'Affaires of India in Baku informed that the Chemical industry in India is highly diversified, covering more than 80,000 commercial products. He underlined that there is a huge scope for diversifying India's economic engagement with Azerbaijan and to boost chemical exports from India. He also informed the participants that more details about Indian companies in various sectors may be seen at the portal www.indianbusinessportal.in
On the course of the event, Ms. Aybaniz Hasanova, Secretary, Azerbaijan Plant Protection Means & Fertilizers Producers and Exporters Association provided information about Azerbaijan’s agrochemical industry and registration procedures for pesticides.
During the event, Mr. Prafulla Walhe, Dy. Director, Chemexcil made presentation on Export Opportunities for Indian Chemical Sector, which was followed by introduction of Indian Chemical Industry companies.
Mr. Muhammed Bilge, Head of Research and Development Department from Sobsan, Azerbaijani Paint Company shared his valuable experience in dyes and pigments sector as well as chemical requirement from India. This was followed by introduction by other Azerbaijani participants and fruitful business discussions between Indian and Azerbaijan companies in question and answer session.
According to the Azerbaijani statistics, bilateral trade between India and Azerbaijan was US$ 1.882 billion during the year 2022 with a huge increase of 154.6%. During this period, India has become Azerbaijan's fifth largest trade partner.
