Budget 2026 Accelerates India’s Shift from Chemical Consumer to Global Producer
“The Union Budget 2026 has provided a definitive blueprint for India’s transition from a chemical consumer to a chemical powerhouse. The Finance Minister’s announcement of three dedicated chemical parks is a masterstroke in de-risking global supply chains and fostering a ‘plug-and-play’ ecosystem for specialty chemicals.
At Shivtek Spechemi Industries Ltd, we have proactively aligned our growth with this vision of self-reliance. Our ₹650 crore expansion plan, which includes our upcoming Chlorinated Polyethylene (CPE) facility, the first of its kind in India, is a direct response to the nation’s massive import dependence on China. By localizing production of critical raw materials like CPE, we are not just building a plant; we are taking a step closer towards creating an innovative ecosystem that allows India to become a leader in specialty chemicals.
The government’s focus on ISM 2.0 and rare-earth corridors further underscores the need for a robust domestic specialty chemical supply chain.
I can humbly state that ‘Aatmanirbharta’ is now meeting industry action. With these new chemical corridors, we expect a significant reduction in logistics costs and a massive surge in R&D-led manufacturing, positioning India as the primary ‘Plus One’ for the global specialty chemicals market.” – Mr. Amitt Nenwani, MD of Shivtek Spechemi Industries Ltd