A peep into the Indian Chemical World
Chemistry, though it seems like the stuff for geeks, is very much a part of our everyday lives. Chemistry is everywhere, whether it is the plastic furniture at home, or a synthetic garment in your closet, or a pill you pop… The words “Chemistry” and “life” are inextricably linked. No wonder then that the Indian chemical industry is one of the fastest growing sectors of the Indian economy.
The Indian Chemical industry, contributing around 6.7 per cent of the Indian GDP, is a vital part of the agricultural and industrial development in India and has major links with several other sub industries such as automotives, consumer durables, food processing, engineering etc. According to a KPMG study, “At $60 billion in 2010, the contribution of the chemical industry to India’s GDP would grow from the current level of 6.7 per cent to 7.1 per cent, while its contribution to the global industry would increase from 1.9 per cent to 2.3 per cent.”
But as with other scientific advancement, the chemical industry faces certain setbacks. Very often you hear of public outcries against the various problems caused by toxic wastes or obnoxious odours that are a result of drug or other chemical products’ manufacturing. The one way of countering such ill effects is the application of green chemistry and its allied principles. And if that is achieved, the future of chemical industry is secured.
With adequate efforts and the development of supporting structures, the Indian chemical industry is envisaged to grow and position India on the global map as a supplier of specialty and knowledge chemicals. It it also set to be a hot destination for investment in these sectors, thereby strengthening the Indian economy. Highly developed technology, in-depth research capabilities, backward and forward linkages and the development of domestic capacity to decrease the dependence on imports are some of the crucial factors that need to be taken into consideration. Nowadays, safety, health and environment protection issues have become the major-talking points in almost all industries and the Indian chemical industry is no exception. Indian chemical manufacturers have to address these issues on a war-footing. We shall be checking out the level of E-factor of the Indian Chemical manufacturers the next time and only then can we can say if the country’s oldest industry is going the environmental-friendly way or not…
