2 weeks ago

India chemicals industry eyes $81 billion exports by 2030

India chemicals industry eyes $81 billion exports by 2030
India chemicals industry targets up to $81 billion exports by 2030 · thehindubusinessline.com

India is a country that makes lots of chemicals used in things like paints, medicines, and perfumes.

A smart planning group called NITI Aayog has written a report about India's chemical factories.

The report says India wants to sell a lot more of these chemicals to other countries.

India hopes to reach 81 billion dollars in exports by the year 2030.

That is like a really, really big piggy bank full of money.

India also wants to make its own chemicals instead of buying them from other countries.

The report says India's chemical business could grow from about 110 billion dollars to as much as 280 billion dollars.

This growth could create almost one million new jobs for people in India.

To do this, India will need better roads and ports, new technology, and easier rules.

The United States and Brazil already buy a lot of Indian chemicals, and India hopes more countries will too.

Key facts

Report source
NITI Aayog
Export target by 2030
USD 76-81 billion
Speciality chemical export target
USD 45 billion
Petrochemical export target
USD 26 billion
Projected market size (fiscal 2030)
USD 290-310 billion
Required production (fiscal 2030)
USD 220-280 billion, from around USD 110 billion in fiscal 2023
Potential new jobs
700,000 to 1 million
Top export markets (2024)
US (17%) and Brazil (16%)

Sources

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