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Gujarat chemical sector to grow exponentially by 2020
28
Sep '10
Gujarat is the chemical hub of India with around 55 percent share in the overall annual turnover of Indian chemical industry. Ahmedabad alone houses nearly 700 chemical companies, and the industry in the state will see further growth.

According to Mr. S. C. Gupta, the Joint Secretary of the Department of Chemicals & Petrochemicals, Ministry of Chemicals & Fertilizers, Government of India, by the year 2020, the chemical industry of Gujarat would reach up to Rs 5,087.5 billion over the current Rs 2,140 billion, thereby, recording a growth of 140 percent.

The chemical industry of the country presently has a turnover of Rs 3885 billion i.e. US $84 billion, including chemicals, petrochemicals, specialty chemicals and pharmaceuticals. It is expected to touch Rs 9,250 billion i.e. $200 billion by the year 2020, added Mr. Gupta.

The industry is anticipated to witness 9 percent growth year on year. In spite of such a growth, the industry has a number of concerns which need to be resolved. The Indian Chemical industry has a meager 3 percent share in the world chemical industry.

Fibre2fashion News Desk - India

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