The
Indian Chemical sector accounts for 13-14% of total exports and 8-9% of total
imports of the country. In terms of volume, it is 12th largest in the world and
3rd largest in Asia. Currently, per capita consumption of products of chemical
industry in India is about 1/10th of the world average. Its size is estimated
at around US$ 35 billion approx., which is equivalent to about 3% of India's
GDP. India ranks 12th by volume in the world production of chemicals. Indian
chemical industry is expected to grow to US$100 billion by 2015.
The
export performance of chemical sector is many impacted many factors especially
the compliance related issues. With the recent developments for Indian
manufacturing exporters, there is an opportunity to increase exports to the US.
With the fluctuating and competitive global market it is necessary that the
other factors impacting the global demand should be kept in mind. To seize this
opportunity and encourage companies to make sure they are in compliance with
the Unfair Competition Act (UCA)
A
business that manufactures a product while using stolen or misappropriated
information technology (stolen IT) in its business operations engages in unfair
competition when the product is sold in the states of USA, either separately or
as a component of another product. Using information technology in business operations
means using IT to design, manufacture, distribution, marketing, or sales of
products.
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