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Small and medium enterprises (SMEs) engaged in the manufacture of chemicals are expected be hit hard as the industry braces for a decline in volume and realisations in the next fiscal year (2020-21), following the outbreak of the Covid-19 pandemic.
SMEs account for 30-35 per cent of the industry (in value terms), and are clustered around Gujarat, Maharashtra and the Delhi-NCR region. Gujarat alone houses over 400 chemical units.
In calendar year 2020, the price of Brent crude oil is expected average $35-40 per barrel, compared with $64 in calendar year 2019, as multiple headwinds coalesce — a global slowdown, output
