date:Nov 28, 2012
ina.
Ranshinge: Though India has a significant domestic market, the production of the Indian chemical industry grew at a dismal rate of an average of only 1.0% per annum, during the period 2004 to 2010. This near flat performance was primarily a result of cheaper imports of organic and inorganic chemicals from China, also poor availability of feedstock compounded the matter further. The devaluation of rupee versus major foreign currencies like the USD and EUR has had its own impact.
However, o