India’s thriving chemical industry
The chemical industry of India has been contributing heavily towards the growth of GDP every year and it swells up every year too, 75 to be precise. These days, it not just big companies and honchos that are ruling the game.
Many small scale and medium scale enterprises have come up over the time and have made their name amongst the leading chemical manufacturing companies in India.
India is the 12th largest producer of chemicals in the world and 3rd largest in all of the Asia.
The chemicals produced are consumed domestically by the nation and the rest is exported in lieu of money for the nation.
India exports more than 60% of chemicals to off-shore companies and countries as either end-product in itself or as a raw material to produce commodities.
Chemical industry’s growth drivers
The growing demand for chemicals, especially the industrial chemicals is attributed highly to the growing population of the country, which has led to a surge in the demands for end-products, manufacturing units using industrial chemicals as the raw materials.
Industries like leather industry, textile industry, rubber industry, plastic industry, drugs industry, pharmaceutical industry, petrochemical industries, fertilizers industry, fuel industries and what not; they are all using industrial chemicals for manufacturing products of human interest and use.
The manufacturing cost of producing industrial chemicals in Asian countries like India is extremely economical and people look to import from India.
The R & D facilities in India are of exceptional quality and don’t need further explanation. Research operations going in the fields of medicine, renewable energy, renewable fuel and other uses industrial chemicals heavily that has led to increasing in the demand for industrial chemicals; not only in India but also in countries overseas.
It has attributed that Chemical Index has started to outperform the Sensex Index, which in itself is suggestive of the fact that chemical industry of India is booming like no other.
Jigs Chemicals is a leading chemical manufacturing company in India that produces quality chemicals for domestic consumption, as well as heavy exports to both government and private organisations overseas.