In this section of Major Industries in India we will discuss about the leading market industries and industries products. We will discuss in detials about textiles industry, chemicals industry, food processing industry, steel industry, cement industry, mining, petroleum and software.
According to some experts, it is said that the share of the US in the world GDP is expected to fall, from 21% to 18%, and the share of India in the world GDP is going to rise from 6% to 11% by 2025. Hence, India is to emerge as a third pole, after the US and China, in the global economy.
The expectation is based upon the growth in all the sectors in India. One of them is the industry sector. It measured a growth rate of 6.2% in October 2003 with a sharp increase of nearly 4% in October 2004, marking 10.1%. Textile industry is the largest industry in terms of employment.
The following discusses about the major industries in India and also major export industry:
LIST OF MAJOR INDUSTRIES IN INDIA
The Indian textile industry covers a wide gamut of activities. Its production ranges from raw materials such as cotton, jute, silk and wool to a high value-added products like fabrics and garments to consumers. The industry make use of different varieties of fibres, be it natural fibres, man made fibres or blends of such fibres.
In Indian economy, the textile industry plays a significant role. It provides direct employment to approximately 35 million people and contributes 4 per cent of GDP. It fetches 35 per cent of gross export earnings and contributes 14 per cent of the value-addition in the manufacturing sector.
The chemical industry in India is one of the oldest domestic industries and it currently produces nearly 70,000 commercial products, from cosmetics and toiletries, to plastics and pesticides. The country is the 13th largest exporter of pesticides and disinfectants globally. In terms of volume, it figures 12th largest producer of chemicals. The petrochemical, agrochemical, and pharmaceutical industries are some of the fastest growing sectors in the Indian economy.
The estimated worth of chemical industry is $28 billion and it accounts for 12.5 per cent of the total industrial production of India and 16.2 per cent of the its total exports.
India is one of the major food producing country in the world but accounts less than 1.5 per cent of international food trade. Hence, there is a vast scope for the expansion of this industry. The food processing industry is estimated (2004) at Rs 3,150 bn (US$ 70 bn), including value added products of Rs 990 bn (US$ 22bn). The estimated growth of this industry is 9-12% and on the basis of estimated GDP, the growth rate is 6-8%, during the tenth plan period. The industry employs 1.6 mn workers and it is projected to grow to 37 mn, direct and indirect, by 2025.
The 4000 years Indian steel industry is on the upswing. During April-December 2004-05, the production of the finished steed recorded a growth of 4 per cent and reached 28.3 million tonnes. In the world scenario, Indian steel industry ranks 10th. It represents approximately Rs. 9,000 crore of capital and provides direct employment to more than 0.5 million people.
Steel Authority of India (SAIL), Bbilai Steel Plant, Durgapur Steel Plant, Rourkela Steel Plant, Bokaro Steel Plant.
Cement industry in India comprises of 125 large cement plants and over 300 mini cement plants having total installed capacity of 148.28 million tonnes and 11.10 million tonnes per annum respectively. In addition to this, there are 10 large cement plants owned by various State Governments. So, the total installed capacity of the country as a whole stands at 159.38 million tonnes. The export of cement in 2003-04 was 6.92 million tonnes.
Ambuja cement, Aditya Cement, J K Cement and L & T Cement.
The mining industries share in India's GDP is from 2.2% to 2/5% only but it contributes to 10-11% in industrial sector's GDP. The organised mining sector employs nearly 0.7 million people. Small scale mining approximately contributes to 6% of the total value of mineral production.
The petroleum industry in India is one of the oldest industry in the world, with oil being struck as early as 1867 at Makum near Margherita in Assam, nine years after Col. Drake's discovery in Titusville. Since then the industry has come a long way. Today, after over fifty years of independence, the oil sector, has seen the growth of giant national companies, like ONGC. India represents one of the most exciting oil markets in the world today.
Major Players in integrated refining and marketing are HPCL, BPCL and IOC.
The software industry in India symbolizes India's strength in the knowledge based economy. It has witnessed a phenomenal growth in last decade. The Compounded Annual Growth Rate (CAGR) is 42.3%. According to NASSCOM's projection, the software industries contribution is expected to grow to 7% by 2008 which started with 0.59% in 1994-95 and reached to 2.87% by 2001-02.