Answer: NITI Aayog
Notes: Recently, NITI Aayog released the report “Chemical Industry: Powering India’s Participation in Global Value Chains.” It highlights India’s chemical sector potential but notes challenges like infrastructure gaps, regulatory delays, and 30% skill shortfall. India has a 3.5% share in global chemical value chains with a trade deficit of USD 31 billion in 2023. The report proposes world-class chemical hubs, better port infrastructure, and an operating expense subsidy scheme. It suggests boosting research and development, fast-tracking environmental clearance, and leveraging Free Trade Agreements (FTAs).
