%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(6).png "NITI Aayog launches ‘Chemical Industry: Powering India’s Participation in Global Value Chains’")
- It outlines a roadmap to transform India into a $1 trillion chemical powerhouse by 2040, raising its GVC share from 3.5% to 12%.
- The report highlights challenges like a $31 billion trade deficit, import dependence, low R&D (0.7%), and a 30% skill gap.
- Key proposals include creating world-class chemical hubs, improving port infrastructure, and launching an Opex subsidy scheme.
- It also recommends boosting R&D, streamlining environmental clearances, and leveraging FTAs for sectoral growth.
- The plan aims to generate 7 lakh skilled jobs and achieve a net-zero trade balance in chemicals by 2030.
- This initiative supports the vision of Viksit Bharat @2047, positioning India as a global leader in sustainable chemical manufacturing.
Question:
Q.1 What is the target value of India’s chemical industry by 2040, as per the NITI Aayog report?a) $500 billion
b) $750 billion
c) $1 trillion
d) $1.5 trillion
Answer: c) The report aims to transform India into a $1 trillion chemical powerhouse by 2040, significantly enhancing its role in the global chemical value chain.
