New Delhi, July 15 -- India has the potential to significantly expand its chemical exports to the United States and add 0.3 percent to its Gross Domestic Product if it successfully negotiates tariffs below 25 percent, according to a recent analysis by the State Bank of India.

The report identifies a strategic opportunity for India to capture market share currently dominated by China, Singapore, and other Asian competitors in the lucrative US chemicals market.

The SBI analysis reveals that India possesses a revealed comparative advantage in the chemicals sector among the top five import categories to the United States.

However, the country's current market share in chemical exports to the US remains significantly lower than that of Chin...