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NITI Aayog Report on Chemicals
July 8 , 2025
15 hrs 0 min
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- The NITI Aayog has released a report titled "Chemical Industry: Powering India’s Participation in Global Value Chains".
- India’s chemical sector is large but fragmented, with infrastructure and many regulatory challenges.
- India holds only a 3.5% share in global chemical value chains.
- India faced a chemical trade deficit of USD 31 billion in 2023 due to its import dependence.
- The report suggests reforms in fiscal and non-fiscal areas to boost the sector.
- With reforms, India can grow to a USD 1 trillion chemical sector by 2040.
- India aims for a 12% share in global value chains (GVC) by 2040 and to become a global chemical powerhouse.
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