The Indian chemical industry has gained a major share in Asia’s growing contribution to the global chemical industry. It has also emerged as one of the preferred destinations for investment in the chemical industry worldwide (Chambers, Road, & Nadu, 2012).
The service sector is one of the fastest growing sectors in India. Contribution of this sector in gross value addition in Indian economy was 52.97% during the financial year 2014-15 (Planning Commission 2015). India witnessed a rapid expansion in this sector after the liberalisation of the economy in 1991.
A well-developed manufacturing sector is needed to provide the basic needs of the population. Similarly to lead to an increasingly diversified economy and to give rise to social psychology and institutional changes manufacturing sector is a principal indicator of economic development of a nation.
The foreign direct investment drives the economic growth of a country. Foreign direct nvestment plays a major role in the advancement of technology, generating employment opportunities and promoting overall development of the economy.