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India Eyes $1 Trn Chemical Output by 2040, Says NITI
Financial Express Kochi
|July 04, 2025
TARGETED REFORMS ENCOMPASSING a comprehensive range of fiscal and non-fiscal interventions will enable India to have a $1 trillion chemical sector and achieve a 12% global value chain (GVC) share by 2040 to become an international chemical powerhouse, NITI Aayog said in a report.
The think-tank has proposed a range of measures to boost the chemical sector, including an operational expenditure subsidy scheme, expedited environmental clearances, more free trade agreements, development of world-class chemical hubs, and improved access to technologies to promote self-sufficiency and innovation.
India's 3.5% share in global chemical value chains and its chemical trade deficit at $31 billion in 2023 underscore its high dependence on imported feedstock and specialty chemicals.
Dit verhaal komt uit de July 04, 2025-editie van Financial Express Kochi.
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