Explain the significance of chemical industry in indian economy
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Chemical industry contributes to 3% of GDP and is the third largest in Asia.
(ii) It includes large and small scale units in both organic and inorganic sector.
(iii) Chemicals are used by most of the industries viz. fertiliser industries, petrochemical industries, synthetic fibre industries etc. at one stage or the other.
The dependency on chemical industries in terms of contribution to GDP, establishing large scale and small units in both organic and inorganic sector and use of chemicals by other industries make it a fast growing and diversifying industry.
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