Ahmedabad, Dec 2 (IANS) The Indian chemical industry is expected to be worth $200 billion by 2020, an official said here Thursday.
Ravi Kapoor, chairman Indian Chemical Council (ICC), Gujarat, said that according to a report prepared by Tata Consultancy Services, Gujarat would contribute about $60 billion to the total Indian market in ten years.
‘Industrial activity constitutes 21 percent of our GDP, of which 11 percent comes from the chemical industry. Ten percent of our exports account for chemicals and petrochemicals and the industry is a net foreign exchange earner,’ he added.
‘The global chemical industry is estimated at $3.65 trillion, with the lion’s share going to Asia at 38 percent, followed by Europe at 29 percent,’ he said.
He was speaking here at an event on waste management organised under the auspices of Vibrant Gujarat, in association with department of chemicals and petrochemicals and iNDEXTb, a state government body for promoting industry in Gujarat.
