Every year, the Indian Chemical industry’s chart is getting higher year by year. The chemical industry’s role as one of the capital intensive of economic growth is well-established across the whole nation. It now has become one of the most influential markets throughout the whole world.
The chemical industry occupies a pivotal position in meeting basic needs and improving the quality of life as well. Petrochemicals, fertilizers, paints, varnishes, glass, perfumes, toiletries, pharmaceuticals, constitute a significant part of the Indian chemical sector Among the most diversified industrial industries. This sector has covered an array of more than 70,000 commercial products.
Although India is severely deficient in conventional hydrocarbons, the country has a well-developed refining industry that provides several basic chemical industry feedstocks.
In import-export, the industry’s revenues in 2019 were $214 Bn and In 2020 it is expected to grow 300$ Bn or even more. India’s chemical industry is also witnessing a sizeable increase, as in 2017, it was $160Bn. Apparently India is looking forward to outrunning some of the chemical honchos of this industry.
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