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According to a recent report released by global consultancy Kearney, India's petrochemical sector will see more than $30 billion in direct investment opportunities over the next decade, which will invest directly in the downstream sector, adding about 150 basis points to gross domestic product (GDP) and creating more than 100,000 jobs
over the next decade.
India will drive global petrochemical growth by more than 10 percent during this period and will need to set up a cracker every year to meet domestic demand
until 2035.
Sudeep Maheshwari, Head of Kearney's Energy & Process Industries business, said: "India has become one of
the most attractive petrochemical investment markets in the world.
We see the COVID crisis as a short-term problem
.
Long-term fundamentals remain unchanged
due to low market penetration.
”
India is likely to benefit from a lower crude outlook, which will improve the competitiveness of domestic manufacturing, and global supply chain restructuring is likely to stimulate India's demand for specialty chemicals over the next decade, which in turn will drive demand
for petrochemicals.
According to a recent report released by global consultancy Kearney, India's petrochemical sector will see more than $30 billion in direct investment opportunities over the next decade, which will invest directly in the downstream sector, adding about 150 basis points to gross domestic product (GDP) and creating more than 100,000 jobs
over the next decade.
India will drive global petrochemical growth by more than 10 percent during this period and will need to set up a cracker every year to meet domestic demand
until 2035.
Sudeep Maheshwari, Head of Kearney's Energy & Process Industries business, said: "India has become one of
the most attractive petrochemical investment markets in the world.
We see the COVID crisis as a short-term problem
.
Long-term fundamentals remain unchanged
due to low market penetration.
”
India is likely to benefit from a lower crude outlook, which will improve the competitiveness of domestic manufacturing, and global supply chain restructuring is likely to stimulate India's demand for specialty chemicals over the next decade, which in turn will drive demand
for petrochemicals.
