New Delhi [India], August 13 (ANI): India's chemicals, textiles, telecom and network equipment, and solar photovoltaic manufacturing sectors can push India to become a global manufacturing powerhouse, according to a NITI Aayog report titled 'Key Sectors to Position India as a Global Manufacturing Hub.'

According to the report, India's chemicals industry has significant potential to enhance domestic value addition by expanding downstream production and improving feedstock utilisation.

Furthermore, the report said promoting domestic manufacturing, investing in competitiveness and strategically leveraging free trade agreements (FTAs) can help India reduce import dependence, strengthen downstream capabilities and support sustainable industrial growth.

At the same time, India's textile and apparel industry (T&A), that caters to around 2 per cent of national GDP, 11 per cent of manufacturing GVA, and 9 per cent of merchandise exports. It noted, 'In fiscal 2025, India exported textile products worth USD 37.7 billion and accounted for 4.1% of global textile and apparel exports, making it the sixth-largest textile exporter globally.'

India's textile industry can significantly boost its global competitiveness by improving raw material availability, scaling up manufacturing through infrastructure support and expanding market access through deeper trade integration.

On the telecom and networking equipment sector, the report noted that India has over 1.2 billion subscribers, nearly 85 per cent telecom penetration and around 75 per cent internet usage. It said the National Telecom Policy 2025 (NTP-25) aims to double the sector's GDP contribution and telecom exports, create one million jobs, and significantly boost investment and R&D spending by 2030.

'India's telecom and electronics sector has significant potential to enhance its global competitiveness by deepening localisation and strengthening domestic component manufacturing,' it said.

Apart from this, NITI Aayog noted, India's solar manufacturing ecosystem can bolster its domestic value addition by strengthening upstream capabilities and slashing import dependence. Noting, the country needs to add around 174 GW of solar capacity to hit 2030 target of 280 GW solar capacity, it said, 'The domestic PV market, estimated at Rs 32,400 crore / $3.7 billion, is expected to grow at a 17-20% CAGR between fiscal 2023 and fiscal 2030, supported by utility-scale solar, rooftop solar, open-access projects and green hydrogen-linked demand.' (ANI)