Question

Analyze the role of chemical industries in the Indian economy.

Answer 1

The given below points enumerate the contribution of the chemical industry to the Indian economy.

(i) The chemical industry contributes to 3% of GDP and is the third-largest in Asia. 

(ii) It includes large and small scale units in both organic and inorganic sector. 

(iii) Chemicals are used by most of the industries  viz . fertilizer industries, petrochemical industries, synthetic fibre industries etc. at one stage or the other.

The dependency on chemical industries in terms of contribution to GDP, establishing large scale and small units in both organic and inorganic sector and the use of chemicals by other industries make it a fast-growing and diversifying industry