Chemical Industry:
Chemical industry includes basic chemicals and its products, petrochemicals, fertilisers, paints and varnishes, gases, soaps, and perfumes, toiletries and pharmaceuticals. This industry is one of the most diversified of all industrial sectors covering more than 70000 commercial products. It not only plays a crucial role in meeting the daily needs to the common man but also contributes significantly towards the industrial and economic growth of the nation. It is the important constituent of the Indian economy. Its turnover size is estimated around US$ 35 billion approx., which is equivalent to 3 per cent of India's GDP. Currently, per capita consumption of products of chemical industry in India is about 1/10th of world average. Within India, it contributes 20 per cent of the excise revenue to the Government. The industry has a weightage of about 14 per cent in the Index of Industrial Production and 17.6 per cent within the manufacturing sector.
0 Comments