1 week ago
India Eyes USD 1 Trillion Chemicals Sector by 2040
India wants its chemicals industry to become worth USD 1 trillion by 2040.
Chemicals Minister J P Nadda discussed this goal with business leaders.
The government says it wants to make investing and manufacturing in India easier.
It also wants more innovation, technology development and sustainable growth.
More than 100 industry representatives joined the meeting.
Companies said large chemical projects need better financing and investment support.
They also asked for protection against unfair trade practices and more help for research.
Other proposals included tax breaks, a technology fund, faster project approvals and a national plan for raw materials.
Chemicals Minister J P Nadda set a USD 1 trillion sector ambition for 2040.
The government said sustained investment, technology development and domestic manufacturing are necessary.
More than 100 global industry delegates attended a CEO roundtable in India.
Industry representatives sought financing, trade protections, R&D support and tax incentives.
They also proposed a sovereign technology fund, faster clearances and a national feedstock policy.
- Who
- Union Chemicals and Fertilizers Minister J P Nadda, the Department of Chemicals and Petrochemicals, Invest India and more than 100 chemical-industry delegates.
- What
- The government and industry discussed India’s plan to build a USD 1 trillion chemicals sector by 2040.
- Where
- India; the roundtable’s specific venue was not stated.
- When
- Monday; the report was published on August 25, 2026.
- Why
- To expand investment, domestic manufacturing, technology development, innovation and the long-term competitiveness of the chemicals sector.
Government priorities
Industry priorities
Sector expansion
Government priorities
The government emphasised reaching a USD 1 trillion chemicals sector by 2040 through investment, technology and stronger domestic manufacturing.
Industry priorities
Industry representatives focused on the financing and policy support needed to make large-scale, capital-intensive projects competitive.
Trade and investment support
Government priorities
The government said it is creating an enabling ecosystem and will take industry concerns to the relevant ministries.
Industry priorities
Industry sought investment-support mechanisms, trade remedial measures and protection against unfair trade practices.
Project and technology development
Government priorities
The government highlighted innovation, sustainability and long-term growth through an institutionalised dialogue mechanism.
Industry priorities
Industry requested R&D support, tax breaks for attracting global talent, a sovereign technology fund and time-bound single-window clearances.
Key facts
- Sector target
- USD 1 trillion by 2040
- Government lead
- J P Nadda, Union Chemicals and Fertilizers Minister
- Organisers
- The Department of Chemicals and Petrochemicals and Invest India
- Participation
- More than 100 delegates from the global chemical industry
- Industry requests
- Financing, trade remedies, R&D support, tax breaks and faster clearances
- Additional proposal
- A sovereign fund for technology acquisition
- Policy request
- A comprehensive national feedstock policy
Quotes
J P Nadda
India’s Union Chemicals and Fertilizers Minister
“emphasised that the sector has to touch the USD 1 trillion vision by 2040 in the country”
thehindubusinessline.com
Sources
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