A delegation consisting of more than twenty Indian companies specializing in the production and trade of dyes, dye intermediates, organic and inorganic chemicals, agrochemicals, specialty chemicals, and cosmetics convened for a business meeting with their Cambodian counterparts in Phnom Penh.
The initiative, led by the Basic Chemicals, Cosmetics and Dyes Export Promotion Council (Chemixcil), aimed to bolster trade relations in the chemical sector between India and Cambodia. Over eighty delegates from Cambodia actively participated in the event, which received support from the Embassy of India in Phnom Penh and the Indian Business Chamber in Cambodia (IBCC).
Siddhartha Kumar, Regional Director, Chemexcil, emphasized the significance of the Indian chemical sector, highlighting its pivotal role in India’s industrial and agricultural progress. He noted that the industry’s value stood at $220 billion in 2022, with projections reaching $300 billion by 2025 and an ambitious $1 trillion by 2040. India currently ranks as the sixth largest producer of chemicals globally and the third in Asia, contributing seven percent to the country’s GDP.
As reported by Khmer Times, Babulal Parihar, the President of the Indian Business Chamber in Cambodia, expressed the IBCC’s eagerness to contribute to the enhancement of trade and investment between India and Cambodia, inviting businesses from diverse sectors to become members of the chamber.
