New Delhi, March 7 -- The Indian chemical industry is set to gain from the United States recent decision to impose strict tariffs on China, Canada, and Mexico, according to a report by Prabhudas Lilladher.

The report highlighted that Indian chemical exports to the US could see a rise as American companies seek alternative suppliers to replace Chinese imports.

It said "We believe that USA levying severe tariffs on Canada, Mexico and China may benefit export to USA market for Indian chemical companies as they may seek alternative to China".

The US has levied a 20 per cent tariff on Chinese chemicals, making Indian companies a more attractive option. Since India faces only a 10 per cent retaliatory tariff, it enjoys a 10 per cent cost adv...