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Abstract
The Indian Chemical industry, twelfth biggest in production in the world, is developing at average rate of 12.5%, hence modernization of existing technology through innovation or foreign collaboration could encourage improve development and growth.
Increasing local production requires global competitiveness to withstand imports as well as for export surplus, the success factors are availability of feedstock at competitive cost, access to advanced technology, low cost capital, investment in Research and Development as well talent development.