Basic chemicals and their related products (petrochemicals, fertilisers, paints, varnishes, glass, perfumes, toiletries, pharmaceuticals, etc.) form a very significant part of the Indian economy and account for about 3 per cent of India's GDP. Among the most diversified industrial sectors, it covers an array of more than 70,000 commercial products.
- The chemicals sector accounts for about 14 per cent in overall index of industrial production (IlP), 11 per cent of total exports and about 7.2 per cent of total imports.
- The total Foreign Direct Investment in Chemicals (excluding fertilizers) was US$ 7,252 million from April 2011 to March 2012.
- In terms of volume, India is the third-largest producer of chemicals in Asia, after China and Japan.
- Several Indian chemical companies are strategically positioning themselves in the global market by expanding their reach through acquisitions, strategic alliances and subsidiaries.
- Many chemicals manufacturers now prefer membrane cell technology to mercury cell technology in order to be energy efficient and environment friendly.
Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council
The promotion of product groups such as dyes and dye intermediates, basic inorganic and organic chemicals, including agro-chemicals, cosmetics, toiletries, essential oils, agarbattis, castor oil and its derivatives, is handled by the Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council, which is popularly known as CHEMEXCIL. The Council is engaged in organizing promotional events and fairs for helping exporters in identifying potential markets abroad and in providing publicity and marketing back-up.
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