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CRISIL SME Tracker: Global uncertainties to hit chemical manufacturers

MSMEs, which account for 25-30 per cent of the industry revenue, are expected to see growth moderate to 4-6 per cent in FY26 compared with 5-7 per cent last financial year

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The government, on its part, has imposed anti-dumping duty and minimum import price on certain basic chemicals and intermediates from the Middle east and China to protect local manufacturers

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The Indian chemicals industry is expected to see revenue growth of 6-8 per cent in FY26 on account of continued growth from domestic end-user industries. However on-going geo-political uncertainties poses a challenge to the growth. To be specific growth for FY25 was about 8 per cent, which was on a low base and stable domestic demand.
 
Micro, small and medium enterprises (MSMEs), which account for 25-30 per cent of the industry revenue, are expected to see growth moderate to 4-6 per cent in FY26 compared with 5-7 per cent last financial year.
 
In view of ongoing tariffs related concerns, key