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Opportunities in Chemical Industry in Bangalore, Karnataka

Karnataka is one of the most industries states in India. Karnataka is one of the key players in the Indian chemical industry landscape. The state is a major contributor to the petrochemical industry in the country. The state is home to more than 500 chemical industries of various sizes. Mangalore, a coastal city of Karnataka is a major hub of the chemical and petrochemical industry in the state. The chemical and petrochemical industry in the state is characterized by different kinds of products. Karnataka also has several Special Economic Zones (SEZs) dedicated to the chemical and petrochemical industry in the state.

Government Initiatives for the Sector

The chemical and petrochemical sector plays an important role in the economy of the state. The sector has huge potential to register rapid growth in the future. So, the Government of Karnataka is taking several policy initiatives to promote the sector and contribute to the economy of the state.

Some of the measures from the government for the chemical and petrochemical sector:

  • Single point approval for the projects
  • 50% subsidy in registration charges and stamp duty
  • Exemption from electricity charges
  • Exemption from Labour Welfare Cess
  • 100% FDI allowed in the sector
  • World-class infrastructure required to setup and run the industry
  • Financial grants for industries present in the SEZs

The Government of India recently approved the PLI Scheme for Advanced Chemistry Cell (ACC) Battery Storage. This decision is expected to boost the chemical industry across the country, including Maharashtra. Apart from the PLI Scheme, there are several other schemes for the chemical industry such as Chemicals Promotion Development Scheme, Scheme for setting up Centre of Excellence, Export Promotion Schemes, etc. through which entrepreneurs can avail benefits from the government.

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Hire the Best Chemical Industry Consultants in Bangalore

The chemical sector in the state of Karnataka provides abundant business opportunities to enterprises irrespective of their size. Mangalore Refinery and Petrochemicals Limited, United Spirits Limited, United Beverages Limited, Praxiar India Limited, etc. are some of the major chemical industries present in Karnataka. Apart from these, there also exist several medium and small scale industries in the state. With the growing demand for chemical products in the state and across the country, the role of MSMEs in the chemical industry is increasing.

However, it is not so easy for small and medium scale enterprises to enter into the chemical industry and setup a chemical processing plant in Karnataka without help from chemical engineering consultants in Bangalore. If you are planning to start chemical industry and looking for chemical consultants in Bangalore, then kindly register with SolutionBuggy. Our chemical formulation consultants in Bangalore can help you in the formulation of the chemical products while our chemical plant consultants can assist you in setting up the processing plant. To know more, register with SolutionBuggy and get access to trusted and verified chemical manufacturing consultants in Bangalore.

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