The bilateral trade between India and the United States in goods and services grew by more than 10% per annum over the past two years to reach US $142 billion in 2018-19. Specifically, in the chemical sector, major US manufacturers have recently completed or have planned investments in India. Select investment projects include acquisitions, capacity expansions, greenfield manufacturing investments, and R&D centers. Lubrizol and Grasim Industries have entered into a definitive agreement to manufacture and supply CPVC resin in India through increased production capacity in Dahej, Gujarat. The project is set to get completed by 2022. INOX Air Products, a JV between Industrial Oxygen Company and Air Products, announced plans to build eight new greenfield Air Separation Units across India through 2024. The global trade shifts coupled with fresh policy decisions in India could spell fresh opportunities for Indo-US partnership in the chemical business, say experts. Aileen Nandi, Minister...

Braskem has registered 17% decline in recurring operating result at US$1,469 million in 3Q21 compared to 2Q21  due to lower spreads for resins in Brazil, PP in Europe and PE in Mexico, but above the historical average of the past ten years; and higher PP sales volume in the United States and Europe. Compared to 3Q20, recurring operating result in U.S. dollar increased 116%, due to better spreads for main chemicals, PE and PVC in Brazil, for PP in the United States and Europe and for PE in Mexico; and higher sales volume of main chemicals in Brazil and of PP in the United States and Europe due to the recovery in demand after COVID impact. In Brazilian real, recurring operating result was R$7,670 million, 18% lower than 2Q21, reflecting the Brazilian real appreciation against the U.S. dollar of 1%, and 109% higher than 3Q20. In the quarter, the company reported net income of R$3,537 million. Additionally, year-to-date through September, Braskem reported net income of R$13,455 milli...