India’s chemicals sector is aiming for a massive leap in exports, targeting up to $81 billion by 2030. The goal is part of a broader plan to reduce import dependence and become a net‑zero importer.
The report breaks down the target into three main segments. It projects $45 billion in speciality chemical exports, $5‑10 billion in inorganic chemicals, and $26 billion in petrochemicals.
To reach these numbers, the industry must grow its consumption at a compound annual growth rate (CAGR) of 10‑11 % over the next five fiscal years. Production needs an even faster 14 % CAGR.
India’s domestic chemical consumption is expected to hit $290‑310 billion by fiscal 2030, making up about 5‑6 % of global chemical use. This rise will drive the need for higher local output.
Current production stands at roughly $110 billion in fiscal 2023. By 2030, it must double to $220‑280 billion to meet demand and support export ambitions.
The growth plan could create between 700,000 and 1 million new jobs by the end of the decade. This would boost the manufacturing workforce and support ancillary industries.
Key export drivers identified include dyes and pigments, paints and coatings, agrochemicals, and flavours and fragrances. These sectors already show strong growth potential.
Specialty chemicals are already finding markets worldwide. In 2024, the United States accounted for 17 % of India’s specialty chemical exports, while Brazil represented 16 %. Yet India’s share in major global import markets remains around 8 %, leaving room for expansion.
The report highlights strengths such as rising domestic demand, supportive policies, and robust manufacturing capabilities. However, challenges remain: infrastructure gaps, regulatory hurdles, and a need for technological advancement.
To overcome these obstacles, the report recommends targeted investments, policy reforms, and an innovation‑driven ecosystem. These measures aim to lift India up the global chemicals value chain and achieve its 2030 goals.