Analyse the role of chemical industries in the Indian economy.
Answers:
1. The Chemical Industry in India is fast growing and diversifying, contributing approximately 3 per cent of the GDP. It is one of the third largest industries in Asia and occupies the twelfth place in the world in terms of its size.
2. The Chemical industry comprises of both large and smallscale manufacturing units and rapid growth rates have been recorded in both organic and inorganic sectors.
3. The inorganic chemicals including sulphuric acid, nitric acid, alkalies etc. are used to manufacture fertilizers, adhesives, plastic, detergents, soaps, caustic soda etc. These industries are widely spread across the entire subcontinent.
4. The organic chemicals include petrochemicals, which are used for manufacturing synthetic fibers, synthetic rubber, plastics, dye-stuffs, drugs, and pharmaceuticals. Such organic chemical plants are located near various oil refineries or petrochemical plants.
5. The chemical industry in India is its own largest consumer. The basic chemicals undergo processing to produce chemicals which are of great importance to industrial application, agriculture or directly for the consumer market.