Question

Analyse the role of chemical industries in the Indian economy.

Answer 1

Hint:
The chemical industry includes companies that produce industrial chemicals. Indispensable for the modern world economy, raw materials (oil, natural gas, air, water, metals and minerals) are converted into more than 70,000 different products. The plastics industry has some overlap as several chemical companies produce plastics and chemicals.

Complete solution:
1. The chemical industry in India is growing and expanding rapidly, contributing around 3% of GDP. It is one of the third largest industries in Asia and twelfth in the world.

2. The chemical industry consists of large and small production units and has grown rapidly in both the organic and inorganic sectors.

3.Inorganic chemicals, including sulfuric acid, nitric acid, alkalis, etc., are used to make fertilizers, adhesives, plastics, detergents, soaps, lye, etc. This industry is widespread throughout the subcontinent.

4. Organic chemicals include petrochemicals, which are used to make synthetic fibers, synthetic rubber, plastics, dyes, pharmaceuticals, and pharmaceuticals. These organic chemical plants are located near various oil refineries or petrochemical plants.

5. The chemical industry in India is the largest consumer. Basic chemicals are processed into chemicals that are very important for industrial, agricultural or direct use for the consumer market.

Note:
GDP is the terminal value of goods and services produced over a period of time, usually one year, within the geographic boundaries of a country. GDP growth is an important indicator of a country's economic performance. The organic chemical industry is one of the most important sectors of the chemical industry in the world. Six main chemicals are produced in India: methanol, aniline, alkylamines and their formaldehyde derivatives, acetic acid, and phenols, which contribute to nearly 2/3 of the organic chemicals industry based in India.