New Delhi, July 3 -- A mix of fiscal and non-fiscal incentives can propel India's chemicals industry into the global big league, policy think-tank NITI Aayog said on Thursday, a sector that can catalyze India's journey to a $5-trillion economy and beyond.

The strategic roadmap unveiled in a new report aims to raise India's share of the global chemicals value chain from the current 3-3.5% to as much as 6% by 2030 and 10-12% by 2040.

Achieving this will demand coordinated national efforts spanning policy reforms, infrastructure upgrades, technological advancement and closer international partnerships, said the report titled 'chemical industry: powering India's participation in global value chains.'

The report recommended offering operati...