Abstract
In 2017, several Indian and Chinese companies were competing to supply a polymer intermediate to a global chemical company. The deal was a lucrative one that would last for 20 years and require construction of a new plant. After a period of tough negotiations and careful site visits, the global firm awarded the contract to India’s Aarti Industries. Watchers of the international trade scene may be surprised that the contract didn’t go to a Chinese company. After all, China’s low costs and manufacturing prowess have turned the country into a powerhouse exporter of all manner of industrial goods. But in India, people weren’t so surprised. In fact, Indian chemical executives are betting that they will increasingly win in the global marketplace. Managers at Indian specialty chemical companies see a door opening for India. China has cracked down on environment scofflaws, forcing some small chemical makers there to shut down; US
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