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Chemical Industry India
Chemical industry is an integral component of the Indian economy, which contributes around 7 % of the Indian GDP. It touches our lives in several different different ways. Whether it is thermoplastic furniture we use, or a synthetic garment we wear, or a drug we take – we are inextricably associated to it. The industry is integral to the development of agricultural and industrial development in India and has key linkages with various other downstream, such as automotive, consumer durables, engineering, food processing and more.
Globalization posses many challenges to the industry, which has predominantly developed in a protected environment. With World Trade Organization assuming an increasing role in global economics, there is an inevitable move towards an inter-linked international economy. However, there have been cases where particular segments of the industry, such as pharmaceuticals and biotechnology have performed exceedingly well even at the world level.
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Chemical Industry Exporter History
The chemical industry is one of the earliest domestic industries in India, contributing considerably to both the industrial as well as economic growth of the country since it achieved independence in 1947. The industry presently produces around 70,000 commercial products, which range from toiletries and cosmetics, to plastics and pesticides. The wide and diverse range of products can be broken down into several categories, which include inorganic and organic (commodity) chemicals, plastics and petrochemicals, drugs and pharmaceuticals, dyes and pigments, pesticides and agrochemicals, fine and specialty chemicals, and fertilizers.With primary focus on modernization, the Govt. of India has taken an active role in promoting the growth and development of Indian domestic chemical industry.The Department of Chemicals & Petro-Chemicals that has been part of the |
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Ministry of Chemicals and Fertilizers since 1991, is responsible for making policy making, planning, development, and regulation of the industry. In the private sector, several organizations, including the Indian Chemical Manufacturers Association, the Chemicals and Petrochemicals Manufacturers Association, and the Pesticides Manufacturers and Formulators Association of India, all work with the prime objective of promoting the growth of industry and the export of Indian chemicals. For example, the Indian Chemical Manufacturers Association, represents a large number of Indian companies, which produce and export a variety of chemicals, which have legitimate commercial applications, but also can be used as precursors and intermediates for production of chemical weapons.
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Overview
- Total US$30.59 Billion during 2005-2006 as per March 2007 report*.
- Contributes to 3% of GDP in the same report*.
- One of the fastest growing sectors of Indian economy.
- Chemical Industry in India is fragmented and dispersed - multi product and multi faceted.
- Chemicals sold directly to large customers and through distribution channels. Distribution channels mostly consist of stockists and dealers spread all over India addressing small segments and retail market.
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Foreign Trade :-
India was a net importer of chemicals in early 1990s , but has now become a net exporter due to reduction in Imports because of implementation of many large scale petrochemical plants like Reliance etc. and also because of tremendous growth of exports in sectors like bulk drugs and pharma, pesticides, dyes and intermediates.
Exports by the basic chemical sector in 1995-96 surpassed the target of Rs 6,742 crore by reaching a figure of Rs 7,979.30 crore and showing a massive growth of 24% over the preceding year's figure of Rs 6,403.90 crore. During 1994-95 exports totaled Rs 6,403.90 crore against the target of Rs 5,504.60 crore, while in the preceding year shipments reached Rs 4,904.40 crore against the target of Rs 4,584.00 crore. The drugs and pharmaceuticals and the organic/inorganic/agro-chemicals contributed as much as 63% of total exports. This has been a herculean task, which has been achieved by competing with big multinational corporations of the world. Turnover for the year ended 1998-99 is close to Rs.15,000 crores.
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