In early April, India became a member of the OECD Mutual Acceptance of Data (MAD), an agreement that allows results of nonclinical safety tests performed on chemicals and chemical products in adherence to OECD Test Guidelines and Principles of Good Laboratory Practice to be shared with other member countries. MAD members include all OECD countries, as well as Argentina, Brazil, Malaysia, Singapore, South Africa and Thailand. The ability to share results saves governments and chemical manufacturers an estimated €150 million ($222.3 million) annually. India’s participation could help eliminate trade barriers for chemicals. There has been an increase in the number of inorganic chemical exporters, manufacturers and wholesalers in India over the past few years. According to industry assessments, sales of chemicals have surpassed INR 90,000 crore ($20.3 billion) per year. The chemical industry, consisting of fine, organic and inorganic chemicals, comprises approximately 17% of India’s total industrial production and 16% of manufactured goods exports.

Source: Business Line