India's chemical industry covers over 80,000 commercial products and can be classified into bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers, and fertilisers. India is the fourth-largest producer of agrochemicals and accounts for 16% of the world's production of dyestuffs and dye intermediates. The country's chemicals industry is de-licensed, except for some hazardous chemicals, and holds a strong position in global exports and imports. India's proximity to the Middle East, the world's source of petrochemicals feedstock, enables it to benefit from economies of scale. Domestic chemicals SMEs are expected to show 18-23% revenue growth in FY22, thanks to improving domestic demand and higher realisation due to high chemical prices.