India’s chemicals industry could target exports of up to USD 81 billion by 2030 as the country aims to boost domestic production, cut import dependence and become a net-zero importer, according to a NITI Aayog report. The combined export target of USD 76-81 billion is part of a broader strategy to increase India’s participation in the global chemicals value chain and strengthen its position as a major chemicals producer and exporter, the report said.
Export targets by segment
The NITI Aayog report set out separate export goals for three chemical segments by 2030, according to the report:
| Segment | Export target by 2030 |
|---|---|
| Speciality chemicals | USD 45 billion |
| Inorganic chemicals | USD 5-10 billion |
| Petrochemicals | USD 26 billion |
| Combined | USD 76-81 billion |
These targets are part of a broader strategy to increase India’s participation in the global chemicals value chain and strengthen its position as a major chemicals producer and exporter, the report said.
Consumption and production growth required
To meet the targets, the industry would need to achieve a 10-11 per cent consumption CAGR over the next five fiscal years and a 14 per cent production CAGR, the NITI Aayog report said. The report also highlighted the need to build domestic production capabilities to cater to rising demand and reduce reliance on imports.
Specialty chemicals: key growth areas and markets
The report identified dyes and pigments, paints and coatings, agrochemicals, and flavours and fragrances as key areas that could drive growth in speciality chemical exports. India’s speciality chemical exports have already gained traction across major markets, with the US accounting for 17 per cent and Brazil 16 per cent of exports in 2024. However, India’s presence in major global import markets was only around 8 per cent, indicating scope for further export expansion, the report said.
Challenges and policy recommendations
The report noted that India’s chemicals industry benefits from growing domestic demand, supportive government policies and strong manufacturing capabilities, but faces challenges including infrastructure gaps, regulatory hurdles and the need for technological advancement. It recommended targeted investments, policy interventions and an innovation-driven ecosystem to help India move up the chemicals value chain and achieve its 2030 ambitions.
For commodity traders and procurement teams tracking chemical shipments, the NITI Aayog report provides an official planning framework: the export ambition of USD 76-81 billion rests on the same 10-11 per cent consumption CAGR and 14 per cent production CAGR that will shape India’s import demand over the next five fiscal years. The report’s emphasis on specialty segments such as agrochemicals, paints and coatings, and flavours and fragrances, together with its data showing India holds only an 8 per cent share of major global import markets, highlights both the gap and the intended trajectory for India’s chemical trade.
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