This trend has been more noticeable in the developed western nations, but with the economic boundaries across the world disappearing over time, India too was affected by the contagion effects of globalization. The economic reforms of the 1990s, has helped India transition from an agri-centric economy to an economy with substantial contributions from service and industrial sectors. Businesses took note of the new economic policies and began transforming, which also had good effects on the economy. A large and discerning consumer base attracted international businesses as well, which finally put India on the global map. Consequently, these developments engendered discussions on sustainability in the country. Conversely, unfortunately, as economic activities increased, the environment suffered, much like the emerged countries had witnessed in the previous decades. In addition, as the focus of the Indian economy shifted from the primary sector to secondary and tertiary sectors, it resulted in large scale migrations to the urban areas. Consequently, cities in India grew to multiple times their capacities, thereby, further straining the ecosystem.
It was then that the Indian government, organisations and more importantly, consumers began to feel the need to have a sustainable route to development. This led to calls for the creation of laws and a realization that genuine implementation of regulations was the need of the hour. Moreover, increased awareness among consumers meant that they had been exposed to the success stories of the West and were expecting companies operating in India to work towards making the ecosystem sustainable.
This realisation saw a host of companies introduce practices that were aimed at ensuring a sustainable end-product. However, as seen in the western hemisphere, creating a truly sustainable product takes more than introducing just a couple of practices. Like a computer algorithm that encapsulates a series of instructions, sustainability too necessitates every step to be completed and every stakeholder to be brought under the same umbrella.
Contrary to the popular perception about the chemical industry, it has actually become one of the pioneers in the field of sustainability. Currently valued at $144 billion, the Indian chemical industry has seen a stable growth. In fact, its success has even motivated the government to set up chemical hubs across various states and establish the Central Institute of Chemical Engineering and Technology (CICET) to cater to the industry. India is envisioned to become a bigger chemical production hub in the near future, making it all the more important to make additional efforts to drive sustainability.
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