Chemical MSMEs working at less than half capacity
The Gujarat chemical industry, largely comprising small and medium manufacturers, is going through a rough phase, with most manufacturers functioning at half their production capacity. A slump in demand in domestic and international markets is forcing them to reduce production and sell at lower prices, according to industry members.
Dr Jamin Vasa, chairman, Gujarat Chemical Association and Gujarat Pharmaceutical Association, said, “Most companies are working at around 40% of their production capacity. The lower production has caused manpower cuts and there have been approximately 15-20% job losses across the industry.”