India was a
net importer of chemicals in early 1990s , but has now become a net exporter
due to reduction in Imports because of implementation of many large scale
petrochemical plants like Reliance etc. and also because of tremendous
growth of exports in sectors like bulk drugs and pharma, pesticides, dyes
and intermediates.
Basic Chemicals Export did exceedingly well...
Exports by the basic chemical sector in 1995-96 surpassed the target of Rs
6,742 crore by reaching a figure of Rs 7,979.30 crore and showing a massive
growth of 24% over the preceding year's figure of Rs 6,403.90 crore. During
1994-95 exports totaled Rs 6,403.90 crore against the target of Rs 5,504.60
crore, while in the preceding year shipments reached Rs 4,904.40 crore
against the target of Rs 4,584.00 crore.
The drugs and pharmaceuticals and the organic/inorganic/agro-chemicals
contributed as much as 63% of total exports. This has been a herculean task,
which has been achieved by competing with big multinational corporations of
the world. Turnover for the year ended 1998-99 is close to Rs.15,000 crores.
