The chemical industry is the backbone of India's manufacturing sector, wherein, the market is valued between USD 180 billion and USD 200 billion, accounting for roughly 7 percent of the national GDP. Driven by the China-plus-one supply chain shift and robust domestic demand, the sector is growing at an 8 to 9 percent CAGR. It supports nearly every downstream industry including agriculture, healthcare, and textiles and employs over 2 million people.For rapidly growing economies like India, the chemical sector acts as a massive economic multiplier. Key drivers of its importance include:
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