NEW DELHI (Diya TV) — India could increase chemical exports to between $76 billion and $81 billion by 2030 as it expands domestic production and reduces reliance on imports, according to a NITI Aayog report.
The report projects $45 billion in speciality chemical exports, $5 billion to $10 billion in inorganic chemicals and $26 billion in petrochemicals by 2030.
India’s chemical consumption could reach $290 billion to $310 billion by fiscal 2030, accounting for about 5% to 6% of global consumption.
To meet demand, chemical production would need to rise from about $110 billion in fiscal 2023 to between $220 billion and $280 billion by 2030. The report estimates consumption would need to grow 10% to 11% annually, while production would require annual growth of about 14%.
The United States accounted for 17% of India’s speciality chemical exports in 2024, followed by Brazil at 16%. However, India held only about 8% of major global chemical import markets, leaving room for further expansion.
NITI Aayog identified dyes and pigments, paints and coatings, agrochemicals, and flavours and fragrances as promising areas for higher-value exports.
The report estimates the industry’s expansion could create between 700,000 and 1 million additional jobs by 2030 across manufacturing, logistics, research and related sectors.
However, the industry faces infrastructure gaps, regulatory delays and limited access to ports and storage facilities. Manufacturers will also need greater investment in research, technology and skilled workers.
NITI Aayog recommended developing chemical hubs, improving port infrastructure, offering targeted subsidies for strategically important chemicals and speeding up environmental clearances.
The report also called for greater investment in technology and the use of free trade agreements to improve access to international markets.
Reaching the export targets will depend on expanding production, improving infrastructure and increasing India’s capacity to manufacture higher-value chemicals.
