New Delhi, March 5 -- India could potentially emerge as a global supply hub for chemicals, having demonstrated strong cost competitiveness and market attractiveness over the last five years, said a report by McKinsey & Company prepared in association with the Indian Chemical Council.

The report highlights India's major contribution of 16 speciality chemical sub-segments, including flavours, fragrances, food, and nutrition-based chemicals in the chemical supply.

It says that despite dropped industry margins and the impact of macroeconomic pressures, revenue growth remains encouraging.

Going further, the report added, "Strong macroeconomic fundamentals, abundant talent, and India's low-cost manufacturing advantage position the industry f...