Sunday, December 17

How Improvements in The Chemical Industry Can Lead to Further Growth For Chemical Manufacturers And Exporters

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The chemicals manufacturersand chemical importers importers of India contribute a substantial percentage to the growth of the Indian Economy.  Being one of the oldest industries of the country, it definitely holds brighter prospects for the future. The industry that started functioning right after the country’s independence in 1947, has recently recorded a good annual growth rate of 12.5%.

Well known economist and financial planners of the country have stated that the Chemical sector of India is estimated to attain the worth of 100 billion US dollars in a few years to come. Though, several changes have been introduced in this sector to facilitate growth, but some parts of the industry still needs improvement. Following are the areas that can be worked upon for better performances:

  1. The industry requires increased number of entrepreneurs to steer on the path of expected growth.

  2. Growth of the overseas sales network needs to be improved to help industrial chemical manufacturers in India find international chemicals importers / buyers.

  3. The count of direct employment within the sector needs to be increased.

  4. Import of latest technologies and techniques from foreign countries to enhance our manufacturing knowledge and areas of specialty.

  5. The quality and standards of health and safety within the industry lacks expertise.

  6. The industry needs to be regularized with increased use of information technology that should be evenly distributed.

  7. The specialty chemical plants dealing in specific domains with specialized or more advanced requirements, also needs to be increased.
     

This predominant Industry has been divided into a number of segments and each segment has significantly contributed towards the overall growth. There are numerous factors that have whole-heartedly supported this sector and helped it to achieve the desired progress rate. Due to all these reasons, we have been able to maintain a consistent growth rate since 1991. Since then, we have gained global recognition. Nowadays, we are termed as the most potential employment generating sector of the country.

The Indian chemical manufacturersare now beingacknowledged as the leading chemical exporters across the globe. Indian chemical products are in great demands mainly because of two reasons. Firstly, the quality of the produce is very good, and secondly our prices are the most economical compared to any other country. The import export of chemical products has greatly improvised in the last decade. The betterment in the count of cross-border transaction has been made possible due to several reasons. One of the most substantial factors that have added to the growth of international trading of chemical products is the availability of online import export data. The premier online database companies like Infodrive India provides all the information that the Chemical traders need to prosper. The company provides easily accessible directory of national and international chemicals importers, Chemical exporters and chemical manufacturers.

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