'Storage Of Hazardous Chemicals A Threat'

Business Standard: The chemical market, at present, has turned into a Buyers' market. Why ?

Kirit Gohil: It is true that the chemical market at present has turned into a buyers' market. The reason being is that the production of almost all the items has exceeded the demand.

With the boom in the capital market during 1992-94, many companies went into either creating new capacities or expanding the existing capacities without realising the real demand situation. Besides, the liberlisation which led to cut in import duty has resulted in glut of the imported items. Many items are imported from China, USA and from the Western world whose production cost is lower than our raw materials cost because of their plant efficiency. Today, India has become a