NITI Aayog has proposed a strategic roadmap to nearly double India’s annual chemical exports from USD 44 billion (approx. Rs 3.66 lakh crore) to USD 79–84 billion (approx. Rs 7.3 lakh crore) by 2030. The proposal highlights limited domestic demand as a key growth constraint, calling for export-focused reforms.

The report outlines key measures such as developing chemical production clusters, enhancing port infrastructure, and launching a sales-linked incentive scheme to localise production of critical chemicals and promote exports. India's chemical trade deficit stood at USD 31 billion (approx. Rs 2.58 lakh crore) in 2023, and its global value chain (GVC) share was just 3.5 percent, far behind China's 23 percent. The domestic market, valued at USD 220 billion (Rs 18.3 lakh crore) in 2023, is targeted to grow to US one trillion (Rs 83 lakh crore) by 2040.

Nivedita Shukla Verma, Secretary of Chemicals and Petrochemicals, emphasized, “To reach Rs 83 lakh crore by 2040, we must focus on exports.” NITI Aayog Vice Chairperson Suman Bery noted the chemical sector’s underperformance compared to pharma, despite similar strengths in chemistry. The proposed opex-based subsidy will support sectors including agrochemical intermediates, pharma intermediates, battery chemicals, dyes, and petrochemicals, and aims to strengthen incomplete PCPIRs in Dahej, Paradeep, and Vizag.