Chemical Industry: Powering India’s participation in Global Value Chains

Summary

India's chemical industry, currently valued at $220 billion, faces challenges like limited global market share (3-3.5%), high import reliance, and insufficient diversification into high-value products. NITI Aayog proposes a strategic roadmap including establishing world-class chemical hubs, improving port infrastructure, introducing Opex subsidies, boosting R&D, and streamlining environmental clearances. This planned intervention aims to increase India's global market share to 5-6% by 2030, achieve net-zero imports, and create up to 1 million new jobs.

Key Facts

Source Document

https://example-government.gov/policy-document-link